© NeilsonJournals Publishing All Rights Reserved
NeilsonJournals Publishing
The Americas + Rest of World
Minimum Order Value
6 copies:
Minimum Order Value
6 copies:
Minimum Order Value
6 copies:
ORDER ARTICLE PERMISSIONS/REPRINTS/OFFPRINTS/TEACHING NOTES
To order inspection copies, and/or permissions to include this article in textbooks, edited volumes, course booklets, online/digital course packs, etc., and/or to order multiple individual hard copies for classroom use, please use the secure online payment, or the appropriate form available on the Order Forms page, or alternatively, contact the Publishing Editor, Peter Neilson, pneilson@neilsonjournals.com directly.
Armor Holdings Inc.: An Application of The Foreign Corrupt Practices Act
Fatima Alali
California State University at Fullerton, USA
Silvia Romero
Montclair State University, USA
Volume 17: 2020 pp. 291-294: ABSTRACT
The U.S. Foreign Corrupt Practices Act (FCPA) has gained significant popularity in recent years across borders due to the increased investigation and penalties under the law. The following case is a real-life case that highlights the main provisions of the FCPA. Using cases in teaching an auditing or ethics course is much needed to develop students’ professional judgment, critical and analytical thinking skills and communication skills. Presently, there are a few cases that address the Foreign Corrupt Practices Act and its effect on financial reporting and auditor responsibilities about illegal acts. The Armor Holdings case is interesting and information is publicly available regarding the circumstances that describe the bribery act, lack of whistle-blower protection, the tone at the top, and the accounting treatment. In addition, the increase in actions brought by the Securities and Exchange Commission (SEC) under the FCPA since 2010 heightens the relevance of this case and underscores the need for students to learn the skills necessary to ensure compliance with FCPA and related key regulations such as the Sarbanes Oxley and the Dodd Frank Act. Therefore, cases like this one provide a rich tool to navigate topics and enforce students’ learning of client’s illegal actions and their consequences. These skills are invaluable in practice.
ARTICLE REF.: JBEE17-0CS8