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Asked Apr 25, 2019
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Who are covered by the anti-bribery provisions?  Who are covered by the accounting provisions?

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Expert Answer

Step 1

The Foreign Corrupt Practices Act of 1977 (FCPA) is a United States federal law  known primarily for two of its main provisions. First is accounting transparency requirements under the Securities Exchang Act 1934 and another concerning bribery of foreign officials. 

The FCPA applies anti-bribery provisions to any individual, firm, officer, director, employee, or agent of a firm and any stockholder acting on behalf of a firm. Individuals and firms may also be penalized if they order, authorize, or assist someone else to violate the anti-bribery provisions or if they conspire to violate those provisions.

Step 2

The accounting provisions consist of two primary components. First is under the books and records provision, issuers must make and keep books, records, and accounts that in reasonable detail, accurately and fairly reflect an issuer’s transactions and dispositions...

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