CASE STUDY #7

OUR CLIENT

Asian Agent Assessment for an International Energy Technology Company

The client desired to perform an assessment of agent relationships and contracts for agents representing the company in Indonesia, China, Malaysia, Brunei, Vietnam, Thailand, Saudi Arabia, and India.

OUR PART

UHY Advisors was retained to perform these assessments. During our review of the company’s agent relationships, the UHY Advisors team identified several potential problem areas and communicated numerous recommendations for improvement.  Included in our recommendations were specific suggestions for expanding contract provisions to reduce the company’s FCPA exposure, improvements in the tracking of facilitating payments, and a recommendation that agents and key employees be adequately trained in FCPA requirements.

END RESULT

As a result of UHY Advisors’ special project, the company will expand agent contracts to include our recommendations as well as conduct training of employees and agents.  Additionally, the company will implement a program for annual certifications of compliance with the FCPA.