5 Written questions
5 Matching questions
- Title VIII
- Examples of routine governmental actions
- Culpability Score
- a Which title protects employees of companyies who provide evidence of fraud?
- b (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.
- c (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.
- d The first step of an effective compliance program, as prescribed by the FSGO, is management oversight. (true/false)
- e - 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.
5 Multiple choice questions
- The three steps in calculating financial penalties under FSGO are: Determination of the _____ _____, the ______ _____, and determination of the _____ _____.
- The ______ holds businesses liable for the criminal acts of their employees and agents.
- 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.
- Fortunately, if a bribe is unsuccessful, the company connot be found in violation of the FCPA. (true/false)
- Payments that are accceptable (legal) provided they expedite secure the performance of a routine governmental action refers to ______.
5 True/False questions
d) → 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.
True → It is estimated that Section 404 of SOX has generated auditing fees in the hundreds of millions of dollars. (true/false)
False → The SBDC strictly enforces the FCPA. (true/false)
Public Company Accounting Oversight Board → (PCAOB) is an independent oversight body for auditing companies. They were charged with maintaining compliance with established standards and enforcing rules and disciplinary procedurees for those organizations that found themselves out of compliance.
False → 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)