5 Written questions
4 Matching questions
- Compliance program
- Disclosure, Prohibition
- a The 7 steps to and effective _______________ are Management oversight; Corporate policies; Communication of standards and procedures; Compliance with standards and procedures; Delegaation of substantial discretionary authority; Consistent discipline; and Response and Corrective action.
- b Factors that can decrease the culpability score are called _______ factors
- c The two distinct areas the FCPA focuses on is ____ and _____.
- d The comprehansive Crime Control Act established the U.S. Federal Sentencing Commission in 1984 by an charged it with developing uniform sentencing guidelines for offenders convicted of federal crimes. (true/false)
5 Multiple choice questions
- Which title required CEOs and CFOs to certify quarterly and annual reports to the SEC?
- 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.
- Facilitating payments to foreign officials in order to expedite or secure the performance of a routine governmental action is know as a _________.
- The 5 key pieced of legislation designed to discourage, if not prevent, illegal conduct within organizations are:
- The Foreign Corrupt Practices Act (1977)
- The US Federal Sentencing Guidelines for Organizations (1991)
- The Sarbanes Oxley Act (2002)
- The Revised Federal Sentencing Guidelines for Organizations (2004)
- The Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) (true/false)
- (FCPA) Any regular administrative process or procedure, excluding any action taken by a foreign official in the decision to award new or continuing business.
5 True/False questions
Title VIII → Which title protects employees of companyies who provide evidence of fraud?
Dodd Frank Wall Street → Fortunately, if a bribe is unsuccessful, the company connot be found in violation of the FCPA. (true/false)
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.
Volcker → The _____ Rule: Proposed by former Federal Reserve Chairman Paul _____, this rule limits the ability of banks to trade on their own accounts (i.e., invest their own money) in any way that might threaten the financial stability of the institution (and by definition, the financial markets as a whole).
True → 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.