The APPC always has been introversion, and has drawn Increasing attention as the government stepped up enforcement in recent years. The APPC has two prongs: (1 ) anti-bribery provisions and (2) accounting and internal controls requirements. The bookkeeping provisions only relate to companies listed in the United States, the anti-bribery provisions apply to all companies. The legal standard of liability for APPC bribery violations requires corrupt Intent, but accounting violations do not. Allegedly Striker made unlawful disbursements and donations to government officials In Mexico, Poland, Romania,
Argentina, and Greece to acquire or hold business at each countries public hospital. Striker recorded these gifts as charitable donations, consulting services, travel expenses, and commissions. Striker’s Mexican organization also directed an enticement through a law firm, and recorded it as a legal expense. Analysis Striker Corporation will pay out $2. 2 million for illegal payments to government records. However, the Securities and Exchange Commission (SEC) investigated Striker Corporation and determined that their bookkeeping records documented corrupt equines practices with their international operation.
The SEC investigation revealed that Striker Corporation profited $7. 5 million dollars from illegal brides to government officials to obtain business with subsidiaries in Mexico, Poland, Romania, Argentina, and Greece. Striker was ordered to take corrective action to appropriately continue their international operation. The order also required that Striker work with the investigation staff, receive counsel, and implement a compliance program for their international operations.
They must also submit documents as well as translate he information within the documents. Striker will pay a $3. 5 million dollar fine that will accumulate to $9. 8 million with interest. Conclusion The Securities and Exchange Commission is charged with ensuring the integrity of the financial records filed by public traded companies. The financial reports of Striker Corporation came under scrutiny by the SEC. The types of recorded transactions on the books of Striker Corporation were legal; however, they were not these types of transactions.
