Which of the following best describes the Foreign Corrupt Practices Act of 1977 (amended 1988)?
A) It recommended that every publicly traded company include a report in its annual report assessing the effectiveness of the company's internal control structure and procedures.
B) This act made it a felony to intercept electronic communications and a misdemeanor to break into electronic mail storage facilities.
C) In accordance with section 1029, "Fraud and Related Activity in Connection with Access Devices," this act made it a crime to produce or use a counterfeit access device.
D) It established provisions for record keeping and internal control for companies registered with the Securities and Exchange Commission.

Question

Quizplus · Accepted Answer

The Foreign Corrupt Practices Act (FCPA) of 1977 (amended 1988) established provisions for record keeping and internal control for companies registered with the Securities and Exchange Commission (SEC). The act prohibits the bribery of foreign officials to obtain or retain business and requires companies to maintain accurate books and records and to have adequate internal accounting controls. It aims to promote transparency and accountability in business practices and prevent bribery and corruption in international business transactions. The other options (A, B, C) describe different acts with different purposes and provisions.

Which of the Following Best Describes the Foreign Corrupt Practices