The Foreign Corrupt Practices Act requires that all U.S. corporations under the juris-diction of the Securities and Exchange Commission
A) have at least one foreign subsidiary.
B) maintain accounting records of foreign branches and subsidiaries in the local foreign currency.
C) maintain an adequate system of internal control.
D) must file reports with the National Commission on Fraudulent Financial Reporting.

Question

Quizplus · Accepted Answer

The Foreign Corrupt Practices Act requires that all U.S. corporations under the jurisdiction of the Securities and Exchange Commission maintain an adequate system of internal control. This includes implementing policies and procedures to prevent and detect corrupt practices, and ensuring that accurate financial records are kept for foreign branches and subsidiaries. The other choices are not requirements under the Foreign Corrupt Practices Act.

The Foreign Corrupt Practices Act Requires That All U