Week 5 Reflection Paper - 655 Words

Learning Team Reflection Andre Parker, Kellie Baker, Michael Wheeler and Jeffery Stewart LAW/531 June 16, 2013 Erikka Hise The Foreign Corrupt Practices Act This assignment instructed us to read four articles concerning Legal Issues in International and Domestic Business Foreign Corrupt Practices Act. Within this assignment it discussed the crisis in corporation’s unethical practices. The Foreign Corrupt Practices Act of 1977 sparked the argument that United States companies are disadvantaged in international markets. The act has been controversial since its enactment, with some critics attacking it as ineffective and the American business community complaining that it places U.S. enterprises at†¦show more content†¦Civil lawsuits can also cause problems with a company’s director and officer insurance coverage. Most policies in some organizations will not cover FCPA civil penalties awarded against officers, directors, and or employees of a company. Klein and Aguilar (2010), Stuart says FCPA programs must also consider how the company does business in different regions, so its cont rols address specific practices and operations in those regions, and aren’t just generic controls that apply (with mixed results) worldwide. I agree that the FCPA should consider the region and nature of individual businesses. Every need of any company or operation will never be alike. Conclusion Nevertheless, we believe most companies would be judicious to distribute their funds into strategic compliance planning. According to Compliance Planning (n.d.), compliance planning are any individual or individuals providing services and submitting a claim for payment by the federal government must be alert to the potential for liability stemming from an inappropriately submitted claim. The federal government has the authority to investigate the claims propriety and the authority to impose sanctions in which an investigation finds fault with a claim, ranging from a possibly inadvertent mistake to a determination that the claim was fraudulentlyShow MoreRelatedAn Objective For The Wee k 5 Reflection Paper1552 Words   |  7 Pages An objective for the week 5 reflection paper includes highlighting and summarizing some of the most distinctive core competencies that were galvanized as the result of exposure to course materials. The topics discussed over the previous 4 weeks have helped to identify and distinguish between various key leadership elements which stand to benefit tremendously from developing a conscious awareness pertaining to the concepts themselves. 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