Question

Which of the following provide incentives for developing core practices within a firm that could help ensure ethical and legal compliance?

a. Department of Justice and Open Compliance Ethics Group
b. Department of Justice and the Sarbanes-Oxley Act
c. Federal Sentencing Guidelines for Organizations and the Sarbanes-Oxley Act d. Food and Drug Administration and the Sarbanes-Oxley Act
e. Securities and Exchange Commission and the Sarbanes-Oxley Act

Answer 1

The Federal Sentencing Guidelines for Organizations and the Sarbanes-Oxley Act provide incentives for developing core practices within a firm that could help ensure ethical and legal compliance.

Step-by-step explanation:

The correct answer is c. Federal Sentencing Guidelines for Organizations and the Sarbanes-Oxley Act. Both the Federal Sentencing Guidelines for Organizations and the Sarbanes-Oxley Act provide incentives for developing core practices within a firm that could help ensure ethical and legal compliance.

The Federal Sentencing Guidelines for Organizations establish a comprehensive framework for organizations to prevent and detect criminal conduct. It provides guidelines for the development of effective compliance programs, including establishing standards and procedures, implementing compliance training, and implementing monitoring and auditing systems.

The Sarbanes-Oxley Act specifically focuses on increasing confidence in financial information provided by public corporations. It requires companies to establish and maintain internal controls and procedures for financial reporting, as well as imposes penalties for fraudulent financial activities.