Compliance In International and Domestic Business
Compliance is properly implemented at the same time if the compliance is evaluated. For businesses to operate efficiently, they must adhere to the standards of good business practice. These business practice are the standards businesses need to follow, compliance for business whether its domestic or international have two major components and those components are politics and policy group. Both policies and policy group have similar purpose and, the purpose are both provide rules that will evaluate businesses.
International and Domestic businesses are to adhere and complaint with all business rules, the Foreign Corrupt Practices Act (FCPA) that came to been in 1977 is to make sure the compliance of business rules are kept and follow (Volkov, M.). The FCPA are to enforce good business practice, the agency is to promote transparency, democracy, sustainable development, and governance (Volvok, M). Study shows that compliance are met in someway, FCPA enforcement of business compliance had resulted in corporate fines. According to Volkov Michael “ when businesses both domestic and international are not in compliance there is something called corrupt payment and the purpose of the corrupt payment is for these businesses to retained business.
The payment made by these businesses knowingly for what the did, it could be a business was not practice good business principle. When businesses are not in compliance with fair business practices the foreign corrupt practice act (FCPA) have penalties for these
businesses. “According to” Michael Volkov there are wide ranging civil and criminal penalties for those businesses that violate the practices. Businesses executives and employees can be subject to civil fines, executives, and employees can be fined, and imprisoned up to five years. International business is of higher risk, international business need growth and for this reason...