A new survey by
reveals 46% of legal department heads at FTSE350 companies which conduct
business in the US either wrongly believe they are immune from US prosecutors or
are simply unaware whether they might fall under their jurisdiction.
KMPG surveyed general counsels and company secretaries at FTSE350 companies
on their awareness of the
and Corrupt Practices Act (FCPA), legislation which permits US authorities
prosecute foreign companies and individuals with a ‘US footprint’ for corrupt
practices involving public officials.
Under the act, UK companies leave a US footprint if they do business in the
country or if they use American financial institutions as advisers.
‘The lack of awareness by companies of the scope of US anti-corruption laws
is especially concerning,’ Jennifer Hammond, a director at KPMG Forensic, said.
‘The US regulators take an uncompromising approach to this issue, and have
carried out an increasing number of investigations since 2001.’
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed