Facilitation Payments in International Business Transactions: Law, Accounting, and the Public Interest
This chapter considers international dimensions of foreign bribery and the legal regimes that have been put in place to combat this problem, with a particular focus on the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions. The chapter discusses a range of interwoven public interest dimensions of the problem of foreign bribery, with a particular emphasis on the continued acceptability of facilitation payments in some countries. The intersection of accounting and the problem of foreign bribery is shown to be significant in terms of the way certain forms of payment are treated – both in the accounting records of the paying country and in the taxation regimes of their home countries. Accounting “books and records” provisions are also important in the prosecution of foreign bribery matters.
KeywordsTransparency International Foreign Corrupt Practice Foreign Official International Business Transaction Foreign Public Official
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