Sweetening the Deal: Strengthening Transnational Bribery Laws through Standard International Corporate Auditing Guidelines
Timothy W. Schmidt
University of Minnesota - Twin Cities - School of Law; University of Minnesota - Twin Cities - Minnesota Law Review
September 23, 2008
Minnesota Law Review, Vol. 93, No.3, p. 1120
Despite the existence of law on the books against transnational bribery in most developed nations, prosecution of the crime is oftentimes half-hearted. This Note explores a number of options to promote the punishment of corrupt businesses that bribe foreign officials, even when the prosecution of these businesses might not be in the public interest of the company's home country. It proposes a robust treaty by members of the Organisation for Economic Co-operation and Development that not only outlaws transnational bribery, but also gives developed nations the tools and the motivation to detect it. Such a treaty would level the playing field for businesses, cutting corruption and making corporations and governments more transparant to taxpayers and shareholders.
Number of Pages in PDF File: 24
Keywords: briberty, FCPA, Foreign Corrupt Practices Act, OECD, Organisation for Economic Co-operation and Development, corruption
JEL Classification: G38, K22, K33Accepted Paper Series
Date posted: January 2, 2009 ; Last revised: March 25, 2009
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