FOREIGN CORRUPT PRACTICES ACT Definition

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FOREIGN CORRUPT PRACTICES ACT (1977) is a United States federal law that is primarily known for its two main provisions: one that deals with accounting transparency requirements of issuers required to report under the Securities Exchange Act of 1934 and one that deals with bribery of foreign officials.

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PUBLIC CORPORATION is a corporation formed by federal, state or local governments for specific public purposes.

AUDITOR is an accountant usually certified by a national professional association of accountants, if one exists in the corporation's country, or certified by another countrys recognized national association of accountants. Corporations will often work with both internal auditors and external auditors.

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