Flipkart hires KPMG to conduct ‘graft check’ on its vendors

NEW DELHI: Flipkart has hired KPMG to conduct due diligence of vendors as part of parent company Walmart’s global anti-bribery compliance programme that has been now extended to India’s largest ecommerce company.
The initiative is similar to Walmart’s screening of vendors at its wholesale venture in India — through KPMG since 2012 — as part of the American retail giant’s efforts to comply with a law prohibiting US-listed corporations from indulging in corrupt practices in any foreign country.
Flipkart has started giving new detailed forms to some vendors, according to two people familiar with the development. The ecommerce company is also seeking consent for Flipkart-appointed independent auditors to review the accounts of the suppliers to wholesale and large sellers on its marketplace.