Provide an overview of the FCPA and the risks presented in Indiaas well as advice to implementing a comprehensive complianceprogram to reduce the risk of violating this law

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Nelly StrackeLv2

28 Sep 2019

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Website:
http://www.billabongbiz.com/phoenix.zhtml?c=154279&p=irol-irhome

Question:
1. Provide an overview of the clientâs business and industry in which it operates. The overview must include a discussion on recent developments.
2.What are the significant business and/or audit risks for Billabong? You need to explain at least FIVE (5) risks. DO NOT DISCUSS THE AUDIT RISK MODEL.

I need the answer ASAP. Due date is 11th Sep. Please Help. Word limits 1000

peachguinea-pig94

You have been asked by a business director (BD) to attend a strategy meeting. The business wants to expand into India. The BD states that heâs heard of the law called the FCPA. He wants to know what it is and does it impact his efforts to develop business in India? Please respond in a memo to the BD

* PLEASE DO NOT PROVIDE THE SOLUTIONMANUAL.

Williams Pharmaceutical Company produces a number of drugs thatare regulated by various agencies, including, in the United States,the federal Food and Drug Administration (FDA). These agenciesissue licenses that approve drugs for sale and establish specificregulations regarding production quality and inventory security,violations of which can result in fines or the suspension ofproduct licenses. All the drugs are protected under patents filedin various jurisdictions, and Williams markets the drugs in theUnited States as well as in a number of other countries. Thecompany faces significant competition from other pharmaceuticalcompanies globally.

a. Identify three business risks that are faced by Williams withrespect to production processes and inventories.

b. For each of the risks identified in part (a), state whetherthe business risk results in a current-period inherent risk ofmaterial misstatement of the financial statements (financialreporting risk). If the business risk results in a financialreporting risk, describe that risk in terms of the type offinancial statement misstatement that could occur.

c. Provide examples of how Williamsâs management might mitigatethe risks (e.g., specific controls) identified in part (b) asfinancial reporting risks.

d. For each risk identified in part (b) as a financial reportingrisk, describe substantive auditing procedures that might be usedby the auditors if management did not have controls to mitigate therisk.

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