Foreign Corrupt Policies Act Free Essay, Term Paper and Book Report
FOREIGN CORRUPT PRACTICES ACT
Many United States organizations seek business relationships with international firms. In firms seeking to do business in foreign markets, it is important that all employees of an organization be aware of U.S. laws and rules prohibiting corruption of public officials. Violation of a law may be subject to civil and/or criminal liability, including jail time and large fines. Business owners and their employees are expected to comply with applicable laws in which they conduct business. To provide guidance for organizations interested in business relationships in the foreign market, the Foreign Corrupt Practices Act (FCPA) was enacted in 1977 and revised in 1988.
The provisions of the FCPA prohibit the bribery of foreign government officials by U.S. persons and prescribe accounting and recordkeeping practices. The FCPA contains two principal parts: anti-bribery provisions and accounting and record-keeping provisions. First, the FCPA makes it a criminal offense to pay, offer, or give anything of value to a foreign official, a foreign political par......
Word Count: 1536
Page Count: 6.1 (250 words a page / double spaced)
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