American businesses doing business internationally must comply with the Foreign Corrupt Practices Act (FCPA). This regulation was developed to prevent corrupt payments to foreign government officials and other individuals who could be influential to a foreign government. The FCPA has two primary components: anti-bribery provisions and accurate bookkeeping processes with adequate internal controls. In short, the law serves to prevent businesses from paying bribes to foreign governments in exchange for favorable treatment by requiring companies to maintain accurate and transparent financial records.
The penalties for FCPA violations can be severe. Individuals convicted of violations can face criminal fines of up to $100,000, civil penalties of up to $10,000, and up to five years of imprisonment. An integral step to protect your company from violations of the FCPA is to partner with a qualified legal translation service.
Company Policies and Procedures
The law requires all international businesses to have policies and procedures to outline expectations of the FCPA. Some of the policies auditors will look for include:
- Anti-corruption Practices
- Employee Code of Conduct
- Employee Complaints
- Recordkeeping Procedures
- Auditing Policies
It’s not enough to have the policies in place–the policies and procedures must be written and communicated to employees in the languages they understand. Legal translation services ensure the critical aspects of the law are accurately carried over into the target language versions of the documents.
Employee Training and Communication
Its essential employees understand what they need to do in order for a business to show it is in compliance with the FCPA. Companies must provide regular training and communication to employees to ensure they understand the expectations and how they apply to their jobs.
Legal translation services can help build training programs that are relevant to speakers of other languages, including using cultural references and phrases most relevant to non-English speakers. They will also ensure that materials you’ve created or purchased are communicating your message as intended in other languages.
Communications and Contracts
Translating documents and formal communications is more difficult than just exchanging words from one language to another. Differences in legal systems, cultural expectations, and jargon create complexities for translation that could render documents unintelligible, ineffective, or illegal. Using a translation company with legal experience like The Perfect Translation will help ensure your translated communications and contracts don’t inadvertently contain phrases that could be interpreted as potential bribes.
Make FCPA compliance easier with The Perfect Translation
At The Perfect Translation, we have individuals who are fluent in foreign languages and experienced in navigating the FCPA and other regulations impacting international business. The Perfect Translation uses teams of language experts who have professional experience in the legal topics you’re dealing with–from patents to contracts, disclosures, and advertising materials. Don’t leave your important translation work to computerized bots or generalized linguists. Contact us today for a free quote and learn more about what makes The Perfect Translation the best place to get accurate legal translations.