On 25th May 2018, the Anti-Corruption & FCPA Compliance Committee meeting took place in the Deloitte office in Gurugram. Opening remarks were made by Ms. Ritika Ratti, Chairperson – Anti-Corruption & FCPA Compliance Committee, AMCHAM and Chief Ethics & Compliance Officer & Head of Anti-Corruption, Walmart India. Mr. Sumit Makhija, Partner – Forensic and Mr. Jayant Saran, Partner – Forensic from Financial Advisory Services, Deloitte Touche Tohmatsu India LLP, gave a presentation on ‘Use of Technology to Make FCPA Compliance Effective.’ The presentation illustrated how ESI (electronically stored information), anti-bribery programs, accounting records and transactions and the role played by vendors and agents effect FCPA.
Mr. Makhija stated that technology cannot be the guiding process of a company in fact it can only provide support and act as a back up to the existing systems in place. Usually companies use tracking and financial and document management systems to maintain the compliance standards, along with a check on the emails and communications, within and outside the company. This presentation was followed by a Q&A session with an open discussion among committee members.
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