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A) School

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Which of the following is a source of an individual's moral standards? A) School B) Rule of differentiation C) Government D) Rule of law

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B) Edward always helps his neighbors, and they consider him an ideal neighbor with high moral standards and personal values.

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Which of the following scenarios is an example of personal integrity? A) Ross believes in giving people what they deserve, but sometimes he favors his friends to other employees when it comes to promotions at work. B) Edward always helps his neighbors, and they consider him an ideal neighbor with high moral standards and personal values. C) Christopher quit his well-paid job as a computer software-developer to pursue a career in writing. D) Brenda visits her grandmother, who stays at the retirement home, every week.

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C) virtue ethics

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The problem with _____ is that societies can place different emphasis on different virtues. A) normative ethics B) logical reasoning C) virtue ethics D) functional fixedness

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A) What do your feelings tell you?

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Which of the following questions is identified by Arthur Dobrin to resolve an ethical dilemma? A) What do your feelings tell you? B) What are the alternatives? C) What will the people think of you if choose an alternative? D) What can be done to resolve the problem?

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C) 6

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How many stages are in Lawrence Kohlberg's stages of ethical reasoning? A) 3 B) 5 C) 6 D) 7

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3 Levels: 1) Pre-conventional (stages 1 & 2) 2) Conventional (stages 3 &4) 3)Post-conventional (stages 5&6)

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How many LEVELS are in Lawrence Kohlberg's stages of ethical reasoning? and what are they?

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the manner by which we try to live our lives according to a standard of right or wrong behavior, in both how we think and behave towards others and vice versa

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Define ethics:

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A structured community of people bound together by similar traditions and customs

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Define Society:

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principles based on religious, cultural or philosophical beliefs by which judgments are made about good or bad behavior

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What are moral standards?

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friends, family, ethnic background, religion, school, the media, personal role models, etc.

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Where do moral standards come from?

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FALSE Intrinic value: refers to what is good thing in itself and is pursued for its own sake.

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Ethics refers to what is good thing in itself and is pursued for its own sake. (T/F)

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FALSE Money, car, and property can all be said to have instrumental value.

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Money, car, and property can all be said to have intrinsic value. (T/F)

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TRUE

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Utilitarianism is a belief in the ethical choices that offer the greatest good for the greatest number of people. (T/F)

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TRUE

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The basic assumption of ethical theory is that an individual or community is in control of all the factors that influence the choices they make. (T/F)

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FALSE The final step in solving an ethical dilemma is make a decision.

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The final step in solving an ethical dilemma is to analyze the actions. (T/F)

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a particular set of attitudes, beliefs and practices that characterize a group of individuals

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Define Culture:

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A set of personal principles formalized into a code of behavior

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Define Value System:

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two ways: 1. intrinsic value 2. instrumental value

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The word value can have a specific "worth" to someone, that worth can be expressed in ___ ways.

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The quality by which a value is a good thing in itself and is pursued for its own sake, whether anything comes from that pursuit or not.

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Define Intrinsic Value:

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Happiness, health, self-respect

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Examples of Intrinsic Value:

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The quality by which the pursuit of one value is a good way to reach another value.

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Define Instrumental Value:

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money, property, car, etc. money is valued for what it can buy rather than for itself.

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Examples of Instrumental Value:

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when you are faced presented with a situation that places those values on direct conflict with an action.

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What is a good test of a value system?

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1. Lying is wrong: but what if it is to protect someone you love? 2. Stealing is wrong: but what if you were stealing food for a starving child? 3. Killing is wrong: but what if you had to kill someone in self-defense to protect your own life?

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What are some examples of value conflicts?

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1. doing the right thing 2. a question of someones personal integrity 3. Rules of appropriate individual behavior 4. Rules of appropriate behavior for a community or society

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What are the four basic categories of Ethics?

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Do unto others as you have the do unto you.

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What is the golden rule?

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Virtue ethics Ethics for the greater good Universal Ethics

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What are the three categories of Ethical Theories?

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a concept of living your life according to a commitment to the achievement of a clear ideal (what sort of person would you like to become, and how do I go about becoming that person?) (problem society can place different emphasis on different virtues)

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Define Virtue Ethics:

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ethical choices that offer the greatest good for the greatest number of people (problem is the ends justify the means)

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Define ethics for the greater good (utilitarianism):

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Actions that are taken out of duty and obligation to a purely moral ideal rather than based on the needs of the situation, since the universal principles are seen to apply to everyone, everywhere, all the time. (problem no one is accountable for the consequences of the actions taken to abide by the principles)

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Define Universal ethics:

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Concept that the traditions of your society, your personal opinions, and the circumstances of the present moment define your ethical principles.

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Define Ethical Relativism:

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the study of how ethical theories are put into practice

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Define Applied Ethics:

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a situation in which there is no obvious right or wrong decision, but rather a right or right answer.

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Define Ethical Dilemmas:

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focus on practical consequences of what we choose to do OR focus on the actions themselves and the degree to which they were the right actions to take.

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Identify two distinct approaches to handling ethical dilemmas.

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step 1: analyze the consequences step 2: analyze the actions step 3: make a decision

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What is the 3 step process to solving ethical dilemmas?

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1. what are the facts? 2. what can you guess about the facts you don't know? 3. what do the facts mean? 4. what does the problem look like through the eyes of the people involved? 5. what will happen if you choose one thing rather than another? 6. what do your feelings tell you? 7. what will you think of yourself if you decide one thing or another? 8. can you explain and justify your decision to others?

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What are the 8 questions Arthur Dobrin identified to consider when facing an ethical dilemma?

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looking at the info available to us in resolving an ethical dilemma and drawing conclusions based on that information in relation to our own ethical standards.

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Define ethical reasoning:

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Level 1: lowest level linked to expectation of punishment and reward - Stage 1: obedience and punishment orientation - Stage 2: individualism, instrumentalism, and exchange

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Lawrence Kohlberg's framework of 6 stages of reasoning process over time. Level 1

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Level 2: awareness of broader influences outside of the family - Stage 3: "good boy/nice girl" orientation - Stage 4: law-and-order orientation

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Lawrence Kohlberg's framework of 6 stages of reasoning process over time. Level 2

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Level 3: Highest level, trying to define individual value system rather than group position - Stage 5: social contract legalistic orientation - Stage 6: universal ethical orientation

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Lawrence Kohlberg's framework of 6 stages of reasoning process over time. Level 3

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B) It empowers employees to make more effective decisions with greater confidence.

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Which of the following is true of a good code of ethics? A) It limits the decision-making autonomy of managers and other senior executives. B) It empowers employees to make more effective decisions with greater confidence. C) It does not affect the everyday actions and decisions of employees and managers. D) It liberates CEOs from any constraints laid down by boards of directors.

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A) Codes of ethics have matured from cosmetic public relations documents to performance-measurement documents.

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Which of the following changes has taken place in the business environment over the last five decades? A) Codes of ethics have matured from cosmetic public relations documents to performance-measurement documents. B) Corporate social responsibility has advanced from a core performance-assessment issue to an abstract debate. C) The economy can no longer be affected adversely by the unethical behavior of multinational organizations. D) Senior executives of a company are no longer required to be accountable to the board of directors and their stakeholders.

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C) It introduced greater accountability for chief executive officers and boards of directors.

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Which of the following is true of the 2002 Sarbanes-Oxley Act? A) It permitted the senior officials of organizations to be accountable to nobody other than themselves. B) It did not require boards of directors to ensure that their organizations' obligations were met. C) It introduced greater accountability for chief executive officers and boards of directors. D) It made merging the roles of the chief executive officer and the chairperson of the board of directors mandatory.

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B) Ends-based

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Which of the following principles resolves ethical dilemmas by considering the decision that would provide the greatest good for the greatest number of people? A) Rules-based B) Ends-based C) Golden Rule D) Volcker's Rule

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A) Rules-based

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Which of the following principles resolves ethical dilemmas by considering the outcome of a situation in which everybody makes the same decision? A) Rules-based B) Ends-based C) Golden Rule D) Volcker's Rule

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TRUE

answer

The federal government is one of an organization's stakeholders. (T/F)

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FALSE The economy CAN be affected adversely by unethical organizational behavior.

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The economy cannot be affected adversely by unethical organizational behavior. (T/F)

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FALSE

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Over the years, corporate social responsibility has become an abstract debate with no clearly established legal liabilities. (T/F)

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FALSE A good code of ethics is one that permits employees to make everyday decisions unsupervised.

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A good code of ethics is one that does not permit employees to make everyday decisions unsupervised. (T/F)

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TRUE

answer

According to Saul Gellerman, the belief that an activity is in the corporation's best interests is a commonly held rationalization behind unethical conduct. (T/F)

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the application of ethical standards to business behavior

answer

Define Business Ethics:

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someone with a share or interest in a business enterprise

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Define Stakeholders

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1 . descriptive summation of the customs, attitudes and rules that are observed within a business 2. a normative evaluation of the degree to which the observed customs, attitudes and rules can be said to be ethical.

answer

What are the two distinct perspectives of business ethics?

question

stockholders, shareholders, employees, customers, suppliers, vendors, retailers, wholesalers, federal govt., creditors, community

answer

Examples of stakeholders:

question

the system by which business corporations are directed and controlled

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Define Corporate Governance:

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a companies written standards of ethical behavior that are designed to guide managers and employees in making decisions and choices they face every day.

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Define Code of Ethics:

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FALSE Corporate social responsibility has advanced from an abstract debate to a core performance-assessment issue.

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Corporate social responsibility has advanced from a core performance-assessment issue to an abstract debate. (T/F)

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1. truth verses loyalty 2. short term verses long term 3. justice verses mercy 4. individual verses community

answer

What are the 4 types of ethical conflict?

question

1. ends-based: greatest good for greatest number of people 2. rules-based: everyone makes the same decision as you 3. the golden rule: do unto others as you would have them do unto you.

answer

What are the three principles available when resolving an ethical dilemma?

question

1. a belief that the activity is within reasonable ethical and legal limits-- that is it is not "really" illegal or immoral 2. a belief that the activity is in the individuals or corp. best interests and that the individual would somehow be expected to undertake the activity 3. a belief that the activity is safe because it will never be found out or publicized 4. a belief that because the activity helps the company, the company will condone it and even protect the person who engages in it.

answer

What are the 4 commonly held rationalizations that can lead to misconduct?

question

B) organizational culture

answer

The _____ consists of the values, beliefs, and norms shared by all the employees of an organization. A) organizational strategy B) organizational culture C) organizational structure D) organizational design

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B) product quality

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For the R&D team of an organization, the real ethical dilemmas come when decisions are made about _____. A) customer service B) product quality C) production time D) customer retention

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A) the creation of a career development program for employees.

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Ideally, the human resource function within an organization should be directly involved in: A) the creation of a career development program for employees. B) the incorporation of customer feedback from market research and competitive feedback from closely monitoring the organization's competition. C) the marketing of the organization's products. D) the maintenance of the technology in the organization—data transfer and security, e-mail communications, internal and external websites, and so on.

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C) HR must ensure that the leadership selection and development processes include an ethics component.

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According to the advocates of ethical business conduct, which of the following critical areas needs to be addressed by the human resource (HR) department of an organization? A) HR must keep track of all of the company's financial transactions. B) HR must maintain the technology in the organization—data transfer and security, e-mail communications, internal and external websites and so on. C) HR must ensure that the leadership selection and development processes include an ethics component. D) HR must incorporate customer feedback from market research and competitive feedback from closely monitoring the organization's competition.

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D) HR professionals

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_____ must help ensure that ethics is a top organizational priority. A) External auditors B) External accounting personnel C) The finance department D) HR professionals

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FALSE A organizations culture is composed of the values, beliefs, and norms shared by all the employees of an organization.

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A value chain is composed of the values, beliefs, and norms shared by all the employees of an organization. (T/F)

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the values, beliefs, and norms shared by all the employees of an organization

answer

Define organizational culture:

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FALSE

answer

The manufacturing process is responsible for ensuring that the product reaches the hands of a satisfied customer. (T/F)

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FALSE

answer

Actions taken out of duty and obligation to a purely moral ideal refer to utilitarian actions (T/F)

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TRUE

answer

Internal auditors provide counsel for risk management. (T/F)

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TRUE

answer

The accounting profession is governed by a set of generally accepted accounting principles, typically referred to as GAAP. (T/F)

question

the key functional inputs that an organization provides in the transformation of raw materials into a delivered product or service.

answer

Define Value Chain:

question

-R&D - Manufacturing - Marketing - Sales - Customer Service

answer

What are the key functions of the value chain?

question

- Human Resources: recruitment, training, and development of personnel - Finance: accounting personnel and auditors - IT: technology backbone, data transfer, security, email communications, internal and external websites, etc. - Management: supervisory role that oversees all operational functions

answer

What supports the functions of the value chain?

question

when decisions are being made about product quality

answer

Ethical conflict within research and development

question

do you want it built fast or do you want it build right?

answer

Ethical conflict within manufacturing

question

utilitarianism verses universal ethics

answer

Ethical conflict within marketing

question

this code of ethics speaks eloquently about doing no harm, fostering trust, and improving "customer confidence in the integrity of the marking system", and establishes clear ethical values of honesty, responsibility, fairness, respect, openness, and citizenship.

answer

What are the code of ethics made by the American Marketing Association (AMA)?

question

the function that keeps track of all the company's financial transactions by documenting the money coming in (credits) and money going out (debits) and balancing the accounts at the end of the period.

answer

Define Accounting Function:

question

the certification of an organizations financial statements as being accurate by an impartial third party professional. An organization can be large enough to have internal auditors on staff as well as using external professionals.

answer

Define auditing function:

question

the generally accepted accounting principles that govern the accounting profession. A set of standard operating procedures within the accounting profession

answer

What is GAAP?

question

A situation in which one relationship or obligation places you in direct conflict with an existing relationship or obligation

answer

Define conflicts of interest:

question

the actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations.

answer

Define Corporate Social Responsibility:

question

D) Sustainability

answer

According to Joseph F. Keefe, which of the following is a major trend behind the corporate social responsibility phenomenon? A) Nationalization B) Failure of the private sector C) Failure of the industrial sector D) Sustainability

question

A) Triple bottom-line approach

answer

Which of the following supports the idea of organizations pursuing social and environmental goals in addition to their financial goals? A) Triple bottom-line approach B) Just-in-time approach C) Double bottom-line approach D) Social contract approach

question

C) Ethical

answer

_____ corporate social responsibility (CSR) is the most legitimate type of CSR. A) Altruistic B) Economic C) Ethical D) Strategic

question

B) Altruistic

answer

Which approach to CSR argues that philanthropic initiatives are authorized without concern for the corporation's overall profitability? A) Strategic B) Altruistic C) Ethical D) Economic

question

D) Chicago Climate Exchange

answer

The _____ remains the only trading system for all six greenhouse gases (carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons, and sulfur hexafluoride) in North America. A) Carbon Investors and Services Association B) Camp for Climate Action C) International Petroleum Exchange Futures D) Chicago Climate Exchange

question

TRUE

answer

Corporate social responsibility (CSR) is also referred to as corporate conscience.(T/F)

question

TRUE

answer

The companies that support the policy of "doing well by doing good" believe that doing what's best in the long-term interest of the customer is ultimately doing what's best for the company. (T/F)

question

FALSE this is the instrumental approach to CSR

answer

The social contract approach to CSR is a very simplistic model that focuses on the internal world of the corporation itself and assumes that there are no external consequences to the actions of the corporations and its managers. (T/F)

question

TRUE

answer

According to Joseph F. Keefe, failure of the public sector is a major trend behind the corporate social responsibility phenomenon.(T/F)

question

FALSE Chicago Climate Exchange was launched in 2003

answer

In 2003, the Carbon Investors and Services Association was launched with 13 charter members and today remains the only trading system for all six greenhouse gases (carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons, and sulfur hexafluoride) in North America. (T/F)

question

the perspective that the only obligation of a corporation is to maximize profits for its shareholders in providing goods and services that need the needs of its customers. This focuses on internal world of the corp. and assumes there are no external consequences to the actions of the corp.

answer

Define the instrumental approach to CSR:

question

Milton Friedman

answer

Who is the biggest advocate of the instrumental approach to CSR?

question

the perspective that a corporation has an obligation to society over and above all expectations of its shareholders

answer

Define the Social Contract Approach to CSR:

question

1. Transparency 2. Knowledge 3. Sustainability 4. Globalization 5. The failure of the Public Sector

answer

What are the 5 major trends Keefe talks about being behind the CSR phenomenon?

question

social, environmental and financial

answer

Define triple bottom line

question

Ethical, Altruistic, and Strategic

answer

What are the 3 types of CSR

question

purest and most legitimate type of CSR in which organizations pursue a clearly defined sense of social conscience in managing their financial responsibilities to shareholders, their legal responsibilities to their local community and society as a whole, and their ethical responsibilities to do the right thing for all their shareholders

answer

Define Ethical CSR:

question

Philanthropic approach to CSR in which organizations underwrite specific initiatives to give back to the company's local community or to designated national or international programs

answer

Define Altruistic CSR:

question

philanthropic approach to CSR in which organzations target programs that will generate the most positive publicity or goodwill for the organization but which runs the greatest risk of being perceived as self-serving behavior on the part of the organization

answer

Define Strategic CSR:

question

A) Its board members are accountable to its shareholders.

answer

Which of the following is true of a company with good corporate governance? A) Its board members are accountable to its shareholders. B) It merges the roles of the CEO and chairperson of the board. C) It appoints board members through quid pro quo agreements. D) Its CEO holds more power and authority than its board members.

question

B) They are elected by the shareholders at the annual general meeting.

answer

Which of the following is true of the members of a company's board of directors? A) They are accountable to nobody but themselves. B) They are elected by the shareholders at the annual general meeting. C) They are not eligible to hold management positions in the company. D) They are not eligible to be a part of the audit committee.

question

C) It went beyond companies' financial and regulatory accountability.

answer

Which of the following is true of the King II report? A) It recommended focusing on internal governance alone. B) It ignored companies' impact upon the environment and economy. C) It went beyond companies' financial and regulatory accountability. D) It recommended adhering to the single bottom line of profitability.

question

C) It offered a vague definition of what constitutes an acceptable explanation for noncompliance.

answer

Which of the following is true of the "comply or explain" approach to governance? A) It is a more aggressive approach to corporate governance than the "comply or else" approach. B) It penalizes companies that don't comply with its operating guidelines stiffly. C) It offered a vague definition of what constitutes an acceptable explanation for noncompliance. D) It was incorporated into the Sarbanes-Oxley Act of 2002 because of its effectiveness.

question

D) Evaluating risk-versus-reward scenarios constantly

answer

Which of the following steps benefits corporations most? A) Merging the roles of the CEO and chairperson of the board B) Increasing the authority of the CEO and decreasing that of the board C) Focusing on the single bottom line of profitability D) Evaluating risk-versus-reward scenarios constantly

question

FALSE

answer

The compensation committee is in charge of the compensation of all employees across an organization. (T/F)

question

TRUE

answer

In contrast to the Cadbury report's focus on internal governance, the King I report included a code of corporate practices and conduct that went beyond the organization itself, taking into account its impact on the larger community. (T/F)

question

TRUE

answer

The independence of the board of an organization is compromised when the roles of the chief executive officer and chairperson of the board are held by the same individual. (T/F)

question

FALSE

answer

The power of the stockholders of an organization increases when the roles of the chairman of the board and the CEO are merged into one individual. (T/F)

question

TRUE

answer

Corporate governance is about managers fulfilling a fiduciary responsibility to the owners of their companies. (T/F)

question

an operating committee staffed by members of the board of directors plus independent or outside directors. The committee is responsible for monitoring the financial policies and procedures of the organization—specifically the accounting policies, internal controls, and the hiring of external auditors.

answer

Define Audit Committee:

question

a group of individuals who oversee governance of an organization. Elected by vote of the shareholders at the annual general meeting (AGM), the true power of the board can vary from institution to institution, from a powerful unit that closely monitors the management of the organization to a body that merely rubber-stamps the decisions of the chief executive officer (CEO) and executive team.

answer

Define Board of Directors-

question

an operating committee staffed by members of the board of directors plus independent or outside directors. The committee is responsible for the CEO and other senior executives. Typically, this compensation will consist of a base salary, performance bonus, stock options, and other perks.

answer

Define Compensation Committee:

question

a set of guidelines that require companies to abide by a set of operating standards or face stiff financial penalties.

answer

"Comply or Else"

question

a set of guidelines that require companies to abide by a set of operating standards or explain why they choose not to

answer

"Comply or Explain"

question

committee (staffed by board of directors and specialists) that monitors the ethical performance of the corporation and oversees compliance with the company's internal code of ethics as well as any federal and state regulations on corporate conduct.

answer

Define Corporate Governance Committee:

question

Consistency Responsibility Accountability Fairness Transparency Effectiveness Deployed throughout the org

answer

good corporate governance is CRAFTED

question

ultimately based on trust, which is a difficult trait to test when you are hiring a manage or to enforce once that manager is in place.

answer

what is a fiduciary responsibility?

question

A) movement of funds overseas for the express purpose of conducting a fraudulent scheme.

answer

The Foreign Corrupt Practices Act (FCPA) includes wording from the Bank Secrecy Act and the Mail Fraud Act to prevent the: A) movement of funds overseas for the express purpose of conducting a fraudulent scheme. B) expediting of routine governmental actions in foreign countries through facilitation payments. C) full disclosure of funds brought into or taken out of the United States. D) disbanding of the Public Company Accounting Oversight Board.

question

C) the current offense violated a judicial order, an injunction, or a condition of probation.

answer

The culpability score of an organization might be aggravated if: A) the organization had an effective program to prevent and detect violations of the law in place. B) the organization self-reported the offense to appropriate governmental authorities. C) the current offense violated a judicial order, an injunction, or a condition of probation. D) high-level personnel were not involved in or condemned the criminal activity.

question

D) the organization self-reported the offense to appropriate authorities.

answer

The culpability score of an organization might be mitigated if: A) high-level personnel were involved in or tolerated the criminal activity. B) the organization had a prior history of similar misconduct. C) the organization willfully obstructed justice. D) the organization self-reported the offense to appropriate authorities.

question

B) The SOX was a legislative response to a series of corporate accounting scandals that had begun to dominate the financial markets and mass media since 2001.

answer

Which of the following is true of the Sarbanes-Oxley Act (SOX)? A) The stipulations laid down by the SOX were overturned with the passing of the Foreign Corrupt Practices Act. B) The SOX was a legislative response to a series of corporate accounting scandals that had begun to dominate the financial markets and mass media since 2001. C) The SOX permitted public accounting firms to provide their services to a company whose CEO was employed by that accounting firm within the previous 12 months. D) The SOX prevented public accounting firms that audited the records of publicly traded companies from registering with the Public Company Accounting Oversight Board.

question

A) examine and enforce regulations for banks and credit unions with assets over $10 billion.

answer

The responsibilities granted to Consumer Financial Protection Bureau (CFPB) include the authority to: A) examine and enforce regulations for banks and credit unions with assets over $10 billion. B) penalize auditing firms that have not been registered with the Public Company Accounting Oversight Board. C) act if banks with more than $50 billion in assets pose a threat to the financial stability of the United States. D) limit the ability of banks to merge with, acquire, or otherwise become affiliated with other companies.

question

TRUE

answer

By passing the Foreign Corrupt Practices Act, Congress emphasized the fact that the competitiveness of U.S. corporations in overseas markets should be based on price and product quality. (T/F)

question

FALSE

answer

Paying foreign officials money to ensure the procurement of an exclusive contract is permissible under the Foreign Corrupt Practices Act. (T/F)

question

FALSE

answer

The Federal Sentencing Guidelines for Organizations (FSGO) was criticized because it failed to provide organizations with a comprehensive list of business crimes. (T/F)

question

TRUE

answer

Under the Sarbanes-Oxley Act, public accounting firms that audited the records of publicly traded companies were required to register with the Public Company Accounting Oversight Board.

question

FALSE

answer

The Financial Stability Oversight Council (FSOC) is empowered to act if a bank with less than $10 billion in assets poses a threat to the financial stability of the United States. (T/F)

question

A government agency within the Federal Reserve that oversees financial products and services

answer

Consumer Financial Protection Bureau-

question

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 adjusted according to aggravating or mitigating factors

answer

Culpability Score (FSGO)-

question

A fine that set high enough to match all the organization assets - and basically put the organization out of business. This is warranted where the organization was operating primarily for criminal purpose.

answer

Death Penalty (FSGO)-

question

The FCPA requirement that corporations fully disclose any and all transactions conducted with foreign officials and politicians.

answer

Disclosure (FCPA)-

question

Legislation that was promoted as the "fix" for the extreme mismanagement or risk in the financial sector that led to a global financial crisis in 2008- 2010.

answer

Dodd Frank Wall Street Reform and Consumer Protection Act-

question

The FCPA Payments that are acceptable (legal) provided they expedite or secure the performance of a routine government action.

answer

Facilitation Payments (FCPA)-

question

Federal Corrupt Practices Act

answer

What does FCPA stand for?

question

Federal Sentencing Guidelines for Organizations

answer

What doe FSGO stand for?

question

Chapter 8 of the guidelines that hold businesses liable for the criminal acts of their employees and agents

answer

Federal Sentencing Guidelines for Organizations (FSGO)-

question

Financial Stability Oversight Council

answer

What does FSCO stand for?

question

A government agency established to prevent banks from failing and otherwise threatening the stability of the U.S economy

answer

Financial Stability Oversight Council (FSCO)-

question

Legislation introduced to control bribery and other less obvious forms of payment to foreign officials and politicians by American publicly traded companies.

answer

Foreign Corrupt Practices Act (FCPA)-

question

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 fraudulent scheme.

answer

Prohibition (FCPA)-

question

An independent oversight body for auditing companies.

answer

Public Company Accounting Oversight Board (PCAOB)-

question

Any regular administrative process or procedure, excluding any action taken by foreign official in the decision to award new or continuing business.

answer

Routine Governmental Action (FCPA)-

question

A legislative response to the corporate accounting scandals of the early 2000s that covers the financial management of businesses

answer

Sarbanes Oxley Act (SOX)-

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