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Data Analytics for FCPA Compliance
The Foreign Corrupt Practices Act (FCPA) should not be taken lightly. But compliance can be tricky. The global business environment includes many international, decentralized companies. Individuals often operate in countries where bribes and payoffs have historically been a routine part of doing business. When languages and business cultures vary to a large degree, it can be extremely difficult to keep tabs on the operations. A key tool for avoiding FCPA difficulties is Data Analysis. The truth is in the data, because that is where a company’s conduct is recorded. The rows and columns of data often speak volumes about what is truly going on inside the business. Using Analytics to Protect Yourself Departments such as internal audit and compliance can play a critical role in FCPA compliance by implementing effective monitoring techniques. This shines a light on potential violations and helps develop a culture in which employees know their activities will be reviewed for possible ethical breaches. One way to monitor for FCPA violations is through use of data analytics, which allow for complete, comprehensive testing of all corporate transactions. Companies can meet FCPA accounting provisions by employing assureBI to repeatedly test the effectiveness of internal controls and highlight specific transactions that appear suspicious. When it comes to bribery provisions, data analysis solutions can quickly and easily identify red flags and provide an invaluable early warning system. Software programs can uncover: .

CaptionPayments to risky vendors, including government contractors and   parties on government watch lists.

CaptionPayments made from foreign bank accounts.

CaptionUse of new attorneys, accountants, consultants or other professions   with no prior relationship to the company.

CaptionMissing descriptions or suspicious payment keywords, such as “for   services rendered,” “gifts,” or “facilitation”.

CaptionChecks made out to “cash”.

CaptionPayments classified as government expenses, made in cash, or written   to an individual.

  To assist you with our tested solution on data analysis for FCPA, write to   us at

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