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DCCUMENT RESUME
01964 - [A1112122]
A Review of Actions Eeing Taken in the United States to Control
Questionable Corporate Payments. April 4. 1977. 24 pp.
Speech before Meeting of the Governing Board of the
International Organization of Supreme Audit Institutions,
Malaga, Spain; by Elmer B. Staats, Comptroller General.
Issue Area: Law Enforcement and Crime Prevention (500).
Contact: Office of the Comptroller General.
Budget Function: International Affairs (150); Commerce and
Transportation (400); Law Enforcement and Justice (750).
Organizaticn concerned: Securities and Exchange Commission;
Federal Trade Commission; Internal Revenue Service;
Department of Justice; Department of Defense.
Congressional Relevance: House Committee on International
Relations: International Economic Policy Subcommittee; House
Committee on Interstate and Foreign Commerce: Conseier
Protection and finance Subcommittee; Senate Coaii'tee on
Banking, Housing and Urban Affairs- Senate Committee on
Finance: International Trade Subcommitte; Senate Committee
on Foreign Relations: Multinational Corporations
Subcommittee; Joint Economic Committee: Priorities and
Economy in Government Subcommittee.
Authority: International Security assistance and Arms Export
Control Act (P.1. 94-329). Tax Reform Act (of] 1976-(P.!,.
94-455). Securities Act of. 1933. Securities Ek-cbange Act of
1934. S. Res. 265 (94th Cong.). S Res. 516 (94th Cong.).
The actions being taken in the United States to control
questionable corporate payments made to government officials of
other countries, their political pazties, or pthers tb obtain
business advantages were reviewed. Findinge/Ctnclusions: The
payments by corporations usually were made as tetty cotruption
to facilitate favorable action, to gain competitive advantage
over others, or because of extortion by corrupt officials or
their agents. The Congress of the United States has responded
vigorously to these problems with a series of actions over the
past 2 years, including hearings by congressional committees,
passage of the International Security Assistance and Arms Export
Control Act, and passage of the 1916 Tax Reform Act, which
requires all U.S. companies with foreign subsidiaries to report
all direct or indirect payments made to employees, officials, or
agents of any other government. Former President Ford also
established a Task Pcrce on Questionable Corporate Payments
Abroad, and sought priority consideration in the United Nations
for the United States' proposed international agreement on
questionable corporate payments. The following Government
agencies are in the ;rocess of conducting investigations in this
area: the U.9. Securities and Exchange Commission, the Federal
,7raa.i ccmmission, the Internal Revenue Service, the Department
mt Justic-, and rhe tepartment of Defense. (SC)](ViewImageLocal?handle=hein.gao/gaobadsfk0001&div=1&collection=&method=preview&ext=.png&size=3)