Management's legal responsibility to prevent fraud and other irregularities is implied by laws such as the Foreign Corrupt Practices Act.

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The Foreign Corrupt Practices Act (FCPA) requires management to establish and maintain effective internal controls to prevent and detect fraud and other irregularities. Failure to do so can result in legal and financial consequences for the organization and its management. Therefore, management's legal responsibility to prevent fraud and other irregularities is implied by laws such as the FCPA.

Management's Legal Responsibility to Prevent Fraud and Other Irregularities Is