Passage of the Foreign Corrupt Practices Act had a positive effect on the development of
internal auditing.

Question

Quizplus · Accepted Answer

The Foreign Corrupt Practices Act (FCPA) of 1977 made companies more accountable for their financial practices and controls, leading to an increased emphasis on internal auditing to ensure compliance with the law. This act essentially encouraged the development and enhancement of internal auditing functions within companies to prevent bribery and maintain accurate financial records.

Passage of the Foreign Corrupt Practices Act Had a Positive