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(Great English is a must!! No grammar errors!) (Include the Turnitin report) (All the answers need to be from a business perspective) (4 Pages, APA Format) -------------------------------- Subject of the paper: Asis Case Requirement: Read the Case Asis electronics and answer the questions What did you decide to do if you had been in Peter Inge’s situation? What lessons can be learned from the case and the videos? Other information: Include the reference page andplagerisim report Format: APA FormatNo plagiarism is accepted *** The work will be checked for plagiarism through Turnitin by the professor. It is essential for everything to be free of plagiarism otherwise sanctions will be imposed*** -------- Thank you for your support asis_study_case.pdf Unformatted Attachment Preview Version: 10.2012 ASIS ELECTRONICS Peter Inge, controller for Asis Electronics, a subsidiary of a European-based corporation, reviewed the contract for an order of transmitters for the ministry of defense. Immediately, he noticed receipts totaling $6 million (approximately 20 percent of the total contract value) that did not seem to be attached to any equipment or services provided by his company. Inge became concerned that Asis may have over-invoiced the ministry and he approached the CFO about what to do. “What plans do you have with the surplus that is in our system?” he asked. “This topic is none of my concern,” the CFO replied. Inge let the matter be for several months until he received the annual compliance document for his signature. The form was part of an anti-corruption effort implemented by Asis in the 1990s after a bribery scandal resulted in the convictions of several high-level employees. The company also worked with the OECD on the new “Anti-Corruption Convention,” and it became a member of Transparency International, a non-profit organization devoted to reducing corruption around the world. Many considered Asis to be one of the leading companies in the fight against corruption. Asis encouraged its employees to report any irregularities to the compliance department. Every employee should be concerned with the good reputation of Asis in each country. In all aspects of performing his/her job, every employee must focus on maintaining the good reputation of, and respect for, the Company. To reduce concerns about potential repercussions for reporting irregularities, Asis established “protected communications channels” that ensured confidentiality. Inge read the compliance form and reviewed the anti-corruption handbook contents (see Exhibit 1), in particular sections 2 and 7, to see if he could find any guidance. He wondered what he should do.. This case was written by David Wesley under the direction of Professor Henry W. Lane for the purpose of class discussion. The authors does not intend to demonstrate either effective or ineffective management. Copyright 2009 Northeastern University, College of Business Administration Page 2 * Exhibit 1 Asis Anti-Corruption Handbook (Abridged) Table of Contents 1 Gifts and hospitality 2 Payments for routine action (prohibited) 3 Company political contributions (prohibited) 4 Company charitable donations 5 Sponsorships 6 Intermediaries 7 Record keeping and accurate recording 8 Acquisitions, joint ventures and minority interests 2 Payments for routine action (prohibited) What is this about and why is it an issue? They are small payments made to lower-level government or private sector employees, as a personal benefit to them, to secure or speed-up the performance of a routine action to which the payer is entitled. These are sometimes known as facilitating payments. These are an issue because: • They are a form of corruption. • Payments for routine action are illegal in almost all countries. • Paying for routine government action could easily open the door to more serious issues of corruption. What is the Asis policy? Asis prohibits payments for routine action. What does this mean in practice? • If you make a payment that could possibly be misunderstood as a payment to facilitate routine action, you must notify your responsible Compliance Officer and make sure that it is properly documented and posted to the correct account. • Escalate to your responsible Compliance Officer when you encounter anything that looks like a request for a payment to facilitate a routine action. Such practical problems do arise in everyday business in some countries, but there are usually other ways that Asis can solve these kinds of issues. • Never attempt to disguise such a payment as something else. The penalties for disguising such a payment are much greater than the penalties for making one! How do I go about getting approval? Approval will not be given. 7 Record keeping and accurate recording What is this about and why is it an issue? Books and records is a general term used in this guide to describe all business records. It includes accounts, correspondence, memoranda, tapes, discs, papers, books and any other documents. It is important because the various legal codes require that we maintain accurate and complete books and records. In order to combat corruption it is important that transactions are transparent, fully documented and coded to accounts that accurately reflect their nature. Attempting to conceal a payment can create a worse violation than the payment itself. What is the Asis policy? • Asis books and records must be kept with reasonable detail and accuracy so that they correctly reflect all transactions. • All controls and approval procedures must be followed. • Asis books and records must not contain any false, misleading or other artificial entries. What does this mean in practice? • Ensure that all your own transactions are fully documented, correctly approved and coded to the correct expense description. • If you are aware or suspect that anyone is directly or indirectly falsifying the books and records or in any other way attempting to disguise a payment, you must report your concern immediately to the “Compliance Helpdesk – Tell Us”. ... Purchase answer to see full attachment