* Initial review focused on Brazil, China, Mexico
* Lawyers also flagged India, South Africa as high risk
* Lawmakers investigating bribery allegations
By Aruna Viswanatha
WASHINGTON, June 12 (Reuters) – Lawyers for Wal-Mart Stores
Inc have flagged Brazil, China, India and South Africa
in addition to Mexico, as countries that represent the highest
corruption risk in a global review, according to a letter from
lawmakers investigating the company.
The lawyers said they first reviewed Wal-Mart policies in
Mexico, Brazil and China, and later recommended the company also
evaluate its operations in India and South Africa. The lawyers
referred to those five countries as regions where the risk was
the greatest, according to the lawmakers.
The company has acknowledged it is investigating bribery
allegations involving its Mexican operations, and that it
initiated a world-wide review of its anti-corruption compliance
program in March 2011, but has not provided details about the
review.
According to the letter, from Representatives Elijah
Cummings and Henry Waxman, both Democrats, Wal-Mart continued to
review its anti-corruption policies in other countries.
The review led Wal-Mart to revise its program to include a
new procedure for escalating corruption complaints to senior
management and the board’s audit committee, the letter said.
Continued…
