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What do the accounting and record-keeping provisions of the Foreign Corrupt Practices Act (FCPA) require an issuer to do exactly?

April 26, 2017Accounting ACT corrupt FCPA foreign issuer practices record-keeping require

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What do the accounting and record-keeping provisions of the Foreign Corrupt Practices Act (FCPA) require an issuer to do exactly?

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The bookkeeping requirements of the FCPA require an issuer to “make and keep books, records, and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the issuer.” The FCPA also requires an issuer to maintain a system of internal accounting controls.