The Foreign Corrupt Practices Act (FCPA)was introduced to more effectively control bribery and other less obvious forms of payment to foreign officials and politicians by American publicly traded companies as they pursued international growth.

Question

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The statement accurately describes the purpose and scope of the Foreign Corrupt Practices Act (FCPA). It was enacted by the US Congress in 1977 to combat corruption in international business transactions and to promote ethical standards in global commerce. The law prohibits US companies and their subsidiaries from offering bribes, gifts, or other forms of payment to foreign officials in exchange for business advantages or to influence government actions. It also requires companies to maintain accurate and transparent accounting records and to implement effective internal controls and compliance programs. Violations of the FCPA can result in significant fines, sanctions, and reputational damage for companies and individuals involved.

The Foreign Corrupt Practices Act (FCPA)was Introduced to More Effectively