Flipkart hires KPMG to keep in compliance with Foreign Corrupt Practices Act

by Apparel Resources News-Desk

09-May-2019  |  1 min read

Flipkart
Image Courtesy: qz.com

In order to comply with a law prohibiting US-listed companies from indulging in corrupt practices in India, Walmart-owned Flipkart has hired KPMG to conduct due diligence of vendors. This is a part of Walmart’s global anti-bribery compliance programme that has now been extended to Flipkart.

Flipkart has started giving new detailed forms to some vendors, said two people who are familiar with the development. The e-commerce company is also seeking approval for Flipkart-appointed independent auditors to review the accounts of the suppliers to wholesale and large sellers on its marketplace.

“We always closely work with all our partners to ensure that we are sourcing the products responsibly and serve our customers together better. This also helps our seller partners grow their business in a more structured fashion,” Flipkart said.

“Independent reviews and assessments shall be performed at least yearly to ensure that the organisation addresses non-conformities of established policies, standards, procedures and compliance obligations,” Flipkart mentioned in the form.

A corruption scandal in its Mexico unit prompted Walmart to tighten its compliance with the FCPA globally, including in India.

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