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Full-Text Articles in Business
The Foreign Corrupt Practices Act: Insights For Internal Auditors, Audrey A. Gramling, Dana R. Hermanson, Heather M. Hermanson
The Foreign Corrupt Practices Act: Insights For Internal Auditors, Audrey A. Gramling, Dana R. Hermanson, Heather M. Hermanson
Faculty Articles
Douglas Faggioli, president and CEO of Nature's Sunshine Products (NSP) made the above remarks as he accepted, on behalf of NSP, a 2004 "100 Best Corporate Citizens" award from Business Ethics magazine. NSP received the award two years in a row. Less than two years later, NSP would discover a bribery scheme in its Brazil operations that would expose it to Securities and Exchange Commission (SEC) enforcement under the Foreign Corrupt Practices Act (FCPA). Faggioli and the company's CFO, Craig Huff, along with NSP, would be plaintiffs in a class action lawsuit, and the SEC would fine each officer $25,000. …