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Wal-Mart tightens its internal controls
April 25, 2012
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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.”

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