AuditNet® Foreign Corrupt Practices Act Audit Resources
The Foreign Corrupt Practices Act of 1977 (15 U.S.C. §§ 78dd-1, et seq.) is a United States federal law known primarily for two of its main provisions, one that addresses accounting transparency requirements under the Securities Exchange Act of 1934, and another concerning bribery of foreign officials.
Generally, the U.S. Foreign Corrupt Practices Act of 1977 ("FCPA" or
the "Act") prohibits U.S. companies, their subsidiaries, as well as their
officers, directors, employees, and agents from bribing "foreign
officials" and also requires U.S. companies that issue debt or equity to
maintain internal accounting controls and to keep books and records that
accurately reflect all transactions.
Both the anti-bribery and the record-keeping and internal accounting controls provisions apply to worldwide operations. The FCPA is enforced jointly by the Securities & Exchange Commission (SEC) and the U.S. Department of Justice (DOJ).
Auditors can play an important role in ensuring compliance with the provisions of FCPA. This page provides links to information, e-tools and more to help auditors gain the necessary knowledge to cover this risk to their employers.
Foreign Corrupt Practices Act - Department of Justice site with the statute and links to information, procedures and more.
Transparency and Anti-Bribery Initiatives
Transparency International - USA Toolkit
Audit Programs, Checklists and Guide
Anti-Corruption Guide: Developing an Anti-Corruption Program for Reducing Fiduciary
Risks in New Projects - Indonesia
Fraud Control: Self Audit Guide
Practical Guide to Corruption Prevention
Role of Audit in Fighting Corruption - UN Guide
U.N. Manual on Anti-Corruption Policy
Understanding Fraud and Corruption