Question

Which of the following is not part of the Foreign Corrupt Practices Act? a. financial statement disclosure requirements b. requirement of internal monitoring in companies to prevent violations c. requirement of public disclosure of all bids in foreign countries d. requirement of monitoring contracts with foreign agents e. both a and d are not part of the Foreign Corrupt Practices Act

Answer 1

Answer:

a. financial statement disclosure requirements

d. requirement of monitoring contracts with foreign agents

Explanation:

The Foreign Corrupt Practices Act was an act that was passed in 1977 and received two amendments in 1988 and 1998. The act aims to prohibit companies and their officers from influencing foreign officials with payments and rewards - bribery. The act also has a series of accounting requirements that are designed to ensure that shareholders have an accurate view of the company’s finances.