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The Kraft Heinz Company Resolves, Among Other Things, A Books and Records And Internal Controls Matter

KraftHeinz

There has been only two “traditional” (that is involving foreign bribery) corporate Foreign Corrupt Practices Act enforcement actions thus far in 2021.

However, there have been several other FCPA enforcement actions.

Confused?

Don’t be, just realize that the FCPA has always been a law much broader than its name suggests and the FCPA’s books and records and internal controls provisions (among the most generic legal provisions one can possibility find) can be implicated in a variety of circumstances that have nothing to do with foreign bribery.

The latest example to demonstrate this point is last week’s announcement by the SEC of a $62 million enforcement action against¬†The Kraft Heinz Company for “a long-running expense management scheme that resulted in the restatement of several years of financial reporting.”

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