Open Market and Interbank Currency rates, Precious Metals and Prize Bond Results Provider
Current News:
Home > Business News > international-business-news > wal_mart-tightens-its-internal-controls
Pakistan Business News
International Business News
Forex News
Wal-Mart tightens its internal controls
April 25, 2012
Share this story on Facebook.

GLOBAL – After the allegations of the huge bribery on Wal-Mart’s Mexican subsidiary.

Wal-Mart stated that it has made stronger efforts in improving its internal controls to ensure that they abide by the Foreign Corrupt Practices Act. The act forbids American companies to brine a foreign official in pursuit of business. A new post has been created with the duties of guaranteeing the company’s compliance with the act. David Tovar, a Wal-Mart spokesman said, “We are taking a deep look at our policies and procedures in every country in which we operate.” Other sources revealed that the internal investigation department of Wal-Mart found that ‘Wal-Mart de Mexico’ had paid millions of dollars of corruption to help promote its expansion in a crucial market. Whereas Mr. Tovar answered back, “We believe it’s also important to keep a few things in context: The allegations in the New York Times story about the decisions made in Bentonville are more than six years old.”

Share this story on Facebook.

Latest in Pakistan Business News
Latest in International Business News
Latest in Forex News