Question

LO 1.4The law that specifically prohibits payments to foreign officials in order to attain business is knowns as ________.

FCPA
AICPA
SOX
IFRS

Answer 1

FCPA

Step-by-step explanation:

The Foreign Corrupt Practices Legislation (FCPA) is indeed a U.S. law enacted in 1977 which forbids U.S. companies and persons from bribing foreign governments to secure a business transaction. The FCPA does not impose a minimum number for a corruption transaction fine. The Foreign Bribery and corruption Law also describes the accountability directives that are needed.

The act relates to global acts aimed at deterring bribery and authority misuse. The jurisdiction of the FCPA encompasses the supervision of publically traded corporations ' acts and also their executives, staff, owners, representatives, and staff.