Updated Walmart Statement In Response To Recent New York Times Article About Compliance With The U.S. Foreign Corrupt Practices Act

BENTONVILLE, Ark., April 24, 2012 /PRNewswire/ --  The following statement can be attributed to David Tovar, Vice President, Corporate Communications.

(Logo:  http://photos.prnewswire.com/prnh/20090914/WALMARTLOGO)

"Walmart has been working diligently on U.S. Foreign Corrupt Practices Act (FCPA) compliance and has a rigorous process in place to quickly and aggressively manage issues like this when they arise.

"In the last year, we have taken a number of specific, concrete actions to investigate this matter and strengthen our global FCPA compliance processes and procedures around the world and in Bentonville and Mexico.

"In Bentonville, we have added a series of new escalation and review protocols to ensure FCPA investigations are managed consistently and independently. This ensures investigations are conducted rigorously and the findings are appropriately addressed.

"We have created a new Global FCPA Compliance Officer position. This position will have responsibility for compliance with the FCPA in every market around the world and will oversee five FCPA compliance directors based in the international markets.

"In Mexico, we have taken a number of actions to establish stronger FCPA compliance. We have implemented enhanced FCPA compliance measures including:

• robust policies and procedures;
• internal controls;
• training;
• enhanced auditing procedures; and
• issue escalation and remediation protocols.

"We established a dedicated FCPA compliance director in Mexico who reports directly to our new Global FCPA Compliance Officer in Bentonville.

"All of this is in addition to the worldwide review of our anti-corruption program that we initiated in March of 2011. We are taking a deep look at our policies and procedures in every country in which we operate. This includes developing and implementing recommendations for FCPA training, anti-corruption safeguards, and internal controls. 

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