Ericsson wraps up monitorship
Swedish telecom company Ericsson says that the four-year-long programme to audit the company's compliance with a U.S. anti-corruption agreement has officially ended.
The independent compliance monitor was appointed by the U.S Department of Justice (DOJ) back in June of 2020 in connection with Ericsson’s 2019 Deferred Prosecution Agreement (DPA) to resolve historical violations of the Foreign Corrupt Practices Act (FCPA).
The role of the independent compliance Monitor over the past four years has been to comprehensively review, assess, evaluate and test all aspects of the company’s global anti-corruption compliance program and internal controls.
On March 28, 2024, the Monitor certified to the DOJ that Ericsson's anti-corruption compliance program has satisfied requirements and is functioning effectively.
“This is an important milestone in our journey to improve our organization. Over the past four years we have implemented important compliance requirements and processes. Our commitment to integrity is rock solid and we have no tolerance for corruption, fraud or other misconduct,” says Börje Ekholm, President and CEO of Ericsson, in a press release.
