Avon looks into allegations in China
This article was originally published in The Rose Sheet
Executive Summary
Avon notifies Securities and Exchange Commission and U.S. Department of Justice that it is conducting voluntary internal investigation of its China operations, under the oversight of its Audit Committee, with focus on compliance with Foreign Corrupt Practices Act, according to Oct. 20 release. Investigation launched in June following receipt of allegation that "certain travel, entertainment and other expenses may have been improperly incurred in connection with the company's China operations," firm says. "Investigation is in its early stage, and no conclusion can be drawn at this time as to its outcome," says Avon
|
Avon notifies Securities and Exchange Commission and U.S. Department of Justice that it is conducting voluntary internal investigation of its China operations, under the oversight of its Audit Committee, with focus on compliance with Foreign Corrupt Practices Act, according to Oct. 20 release. Investigation launched in June following receipt of allegation that "certain travel, entertainment and other expenses may have been improperly incurred in connection with the company's China operations," firm says. "Investigation is in its early stage, and no conclusion can be drawn at this time as to its outcome," says Avon. |