BENTONVILLE, Ark. (AP) — Wal-Mart Stores says it has started an internal investigation into whether certain matters like permitting, licensing and inspections complied with the U.S. Foreign Corrupt Practices Act.
The Bentonville, Ark., retail giant is offering few details about the investigation. The law broadly deals with bribery and accounting rules when companies are doing business overseas.
Wal-Mart disclosed the probe in a quarterly report filed Thursday with the Securities and Exchange Commission. Wal-Mart says it doesn't believe the issue will have a material impact on its business.
The company says it started the investigation after reviewing policies, procedures and internal controls tied to its global anti-corruption program.
Wal-Mart has hired outside lawyers to help and has notified the U.S. Department of Justice and Securities and Exchange Commission.
