An auditing firm discovered discrepancies in Wilson Chemicals' accounting practices in 1984, revealing that Joseph Okono, a manager, had spent £50,000 on bribes to streamline procedures in Western Africa. This uncovered illegal activity poses a major problem for Wilson Chemicals, as they risk facing legal issues or having to close operations in Western Africa if Okono's actions are discovered. The case study will examine Wilson Chemicals' existing situation and provide recommendations on how to address the moral and legal risks stemming from Okono's bribery in Western Africa.
2. I) GLOBAL OVERVIEW
II) EXISTING SITUATION
III) PROBLEM STATEMENT
RECOMMENDATION &
DISCUSSION
English – Wilson Chemicals
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7. English – Wilson Chemicals
• Winter 1984 : British-based auditing firm revealed
disquieting discrepancies in accounting practices
• Joseph Okono has spent £50 000 for bribery
(“incentives” to minimize bureaucratic red tape
and streamline procedures)
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WHAT AN AUDIT FIRM REVEALED?
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WHAT ARE THE PROBLEM?
Wilson Chemicals Ltd. Is facing ONE major
problem:
How to face the moral risk in Western Africa (risk of
closing down if Mr. Okono is caught) ?
MID/LONG TERM
English – Wilson Chemicals
