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5 Written questions

4 Matching questions

  1. d)
  2. Examples of routine governmental actions
  3. The Death Penalty
  4. True
  1. a All of the following are covered under Title II: Auditor Independance, except:
    a) Prohibits specific "nonaudit" services of public accounting firms as violation of auditor independence.
    b) requires the external auditor to report to the client's audit committee on specific topics.
    c) Requires auditors to disclose all other written communications between management and themselves.
    d) requires audit committees to be independent and undertake specified oversight responsibilities.
  2. b - Providing permits, licenses, or other official documents to qualify a person to do business in a foreign country.
    - Processing governmental papers, such as visas and work orders.
    - Providing police protection, mail pickup and delivery, or scheduling inspections associated with contract performance or inspections related to transit of goods across a country.
    - Providing phone service, power, and water supply; loading and unloading cargo; or protecting perishable products or commodities from deterioration.
    - Performing actions or a simular nature.
  3. c The first step of an effective compliance program, as prescribed by the FSGO, is management oversight. (true/false)
  4. d What is the maximum fine under FSGO

5 Multiple choice questions

  1. The best way to minimuze your culpability score is to make sure you have some form of program in place that can effectively detect and prevent violations of law - such as a _______ _______.
  2. (FSGO) The calculation of a degree of blame or guilt that is used as a multiplier of up to 4 times the base fine. The culpability score can be adusted according to aggravating or mitigating factors.
  3. The _____ _____ _____ _____ Reform and Consumer Protection Act contains legislation that was promoted as the "fix" for the extreme mismanagement of risk in the financial sector that lead to a global finanial crisis in 2008-2010.
  4. The so-called _____ _____ is where the fine is set high enough to match all the organizations assets - and basically put the organization out of business. This is warranted where the organization was operating primarily for a criminal purpose.
  5. Processing government papers such as visas is a routine government action. (true/false)

5 True/False questions

  1. b)All of the following are covered under Title II: Auditor Independance, except:
    a) Prohibits specific "nonaudit" services of public accounting firms as violation of auditor independence.
    b) requires the external auditor to report to the client's audit committee on specific topics.
    c) Requires auditors to disclose all other written communications between management and themselves.
    d) requires audit committees to be independent and undertake specified oversight responsibilities.

          

  2. 5 yearsIt is estimated that Section 404 of SOX has generated auditing fees in the hundreds of millions of dollars. (true/false)

          

  3. VolckerFortunately, if a bribe is unsuccessful, the company connot be found in violation of the FCPA. (true/false)

          

  4. Prohibition(FCPA) The FCPA inclusion of wording from the Bank Secrecy Act and the Mail Fraud Act to prevent the movement of funds overseas for the express purpose of conducting a fradulent scheme.

          

  5. SecondaryWhat is the maximum term of organizational prohibition?

          

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