CCCP Anti-Corruption & Anti-Bribery Compliance

Question 1

What does FCPA stand for?

Accepted Answer

Foreign Corrupt Practices Act

Answer

The Foreign Corrupt Practices Act (FCPA) is a U.S. law enacted in 1977 that prohibits bribery of foreign government officials by U.S. persons and companies.

Question 2

Which U.S. government agencies have primary enforcement authority over the FCPA?

Accepted Answer

DOJ and SEC

Answer

The Department of Justice (DOJ) enforces the FCPA's criminal anti-bribery provisions, while the Securities and Exchange Commission (SEC) enforces the civil anti-bribery and accounting provisions against issuers.

Question 3

Under the FCPA, which type of payment is explicitly permitted under the 'facilitating payments' exception?

Accepted Answer

Payments to expedite or secure the performance of routine, non-discretionary government actions

Answer

The FCPA's facilitating payments exception permits small payments to low-level foreign officials to speed up routine, ministerial government actions such as processing permits or providing utilities.

Question 4

Under the FCPA, who qualifies as a 'foreign official'?

Accepted Answer

Officers or employees of foreign state-owned enterprises and international organizations

Answer

The FCPA broadly defines 'foreign official' to include employees of foreign government instrumentalities, including state-owned or state-controlled enterprises and officials of public international organizations.

Question 5

What do the FCPA's accounting provisions require of issuers (public companies)?

Accepted Answer

Maintaining accurate books and records and implementing adequate internal accounting controls

Answer

The FCPA's accounting provisions require issuers to keep accurate books and records that fairly reflect their transactions and to maintain a system of internal accounting controls sufficient to prevent unauthorized payments.

(CCCP) Certified Corporate Compliance Professional Practice Test

(CCCP) Certified Corporate Compliance Professional Practice Test

CCCP Anti-Corruption & Anti-Bribery Compliance