Please enter your email below to subscribe
Beam Inc., the maker of Jim Beam liquor, is reportedly performing an internal audit of its India operations to see if it has potentially violated any provisions of the Foreign Corrupt Practices Act (FCPA), according to the Wall Street Journal. “Based on a routine internal audit of operations in India, we are taking a closer look at the actions of certain individuals and practices in the India business,” said a Beam spokesperson. The company is also reportedly investigating potential invoicing problems and excise tax violations.
Internal corporate investigations are the right response when a company becomes aware of potential violations of the FCPA and other laws. An internal investigation often serves as an opportunity to discover problems and remedy them before they become more widespread, and regulators may look more favorably upon companies that self-police and report their findings in the event that misdeeds are uncovered. In the aftermath of the internal investigation, the company can identify weak points in its compliance program and put in place better processes to prevent problems in the future.
Guidepost Solutions regularly helps companies and their counsel conduct internal corporate investigations and bolster compliance programs to minimize the risk of regulatory violations. Our experts conduct thorough audits and create plans to implement compliance programs in line with applicable laws and regulations. Guidepost also serves as integrity monitor pursuant to settlement agreements with government agencies.