The Foreign Corrupt Practices Act requires which of the following?
A) The auditor engaged to examine the financial statements must report to the SEC all illegal payments.
B) A publicly-held company must establish an independent audit committee to monitor the effectiveness of a company's internal controls.
C) U.S. firms doing business abroad must report sizable payments to non-U.S. citizens to the U.S. Justice Department.
D) A company registered with the SEC must devise and maintain an adequate internal control.
E) All of these are required by the Foreign Corrupt Practices Act. E

Question

Quizplus · Accepted Answer

All of the choices listed (A, B, C, and D) are requirements of the Foreign Corrupt Practices Act, making choice E the correct answer. The Act prohibits bribery of foreign officials by U.S. companies and requires certain reporting and disclosure obligations for companies doing business abroad. The Act also includes provisions related to accounting and internal control requirements for publicly-held companies.

The Foreign Corrupt Practices Act Requires Which of the Following