Question

Recommend legal compliances approaches used by companies conducting international business. Which approaches would you use for Fiji?

Answer 1

Legal compliance approaches which must be adopted by various companies in order to do international business are as follows-

1. the company must be following up with foreign corrupt practices act.

2.foreign countries laws are not impartial so there must been an assumption that fair disclosures are not always made.

3.assessment of risk with the international business which can include various kinds of political risk and other geographical risks.

4. Assessment of currency exchange mechanism between the two countries.

While doing business in Fiji I would look for-

1. Political stability of the country which could be covered under political risks.

2.manipulation in practices related to books of accounts can also be a matter of concern.

3. Foreign corrupt practices act must be considered while investment in Fiji.