Foreign Corrupt Practices Act has been enacted to enforce compliance of ant-bribery provisions and accounting provisions on companies traded in United States exchange markets and provide for criminal and civil liability in case of non-compliance. The accounting provisions under the Act requires companies to maintain an efficient internal control environment which is designed to provide sufficient level of assurance regarding the compliance of provisions of the ‘Act’. To select: The correct option.

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Chapter 20, Problem 20.25MCQ

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Introduction:

Foreign Corrupt Practices Act has been enacted to enforce compliance of ant-bribery provisions and accounting provisions on companies traded in United States exchange markets and provide for criminal and civil liability in case of non-compliance.

The accounting provisions under the Act requires companies to maintain an efficient internal control environment which is designed to provide sufficient level of assurance regarding the compliance of provisions of the ‘Act’.

To select: The correct option.

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