Bharti Walmart
28 May 2012. Walmart, the world’s largest retailer, has appointed a team in India to brief employees on its anti-corruption compliance programme. The move comes within days of US authorities launching a probe into allegations of bribery at the retailer’s Mexican arm. Bharti Walmart is an equal joint venture of the two retailers in India.
Walmart has appointed audit firm KPMG to conduct the awareness programme, said a senior executive at Bharti Walmart. A team of lawyers will assist the KPMG team..
The Foreign Corrupt Practices Act (FCPA) of the US prohibits companies, their subsidiaries and employees from bribing officials in the US and other countries to enhance business. It also requires companies to keep books and records reflecting all transactions.
Walmart India, however, said it was a routine exercise. “We are a legally-compliant company and conduct our business with integrity and compliance to law,” a spokeswoman for the retailer said. “We also believe in providing regular training to our associates on several issues, including FCPA,” she added.
