FCPA and UKBA Compliance Quiz
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Questions and Answers

What are the two main laws governing bribery?

  • The FCPA and the UKBA (correct)
  • The FCPA and the USBA
  • The UKBA and the USBA
  • The FCPA and the EUBA
  • What is the purpose of the FCPA?

  • To prohibit the giving of anything of value to a foreign official (correct)
  • To prohibit the bribery of any person
  • To establish corporate compliance program
  • To set the tone for the entire organization
  • What is the responsibility of top managers?

  • To comply with laws and company policies (correct)
  • To implement training for third parties
  • To obtain certification of compliance
  • To investigate business partner due diligence
  • What is the purpose of internal accounting controls?

    <p>To detect unusual payments or invoices</p> Signup and view all the answers

    What should top managers do to support compliance oversight?

    <p>Dedicate resources to support compliance oversight</p> Signup and view all the answers

    Study Notes

    • The US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act (UKBA) are two of the main laws governing bribery.
    • The FCPA prohibits the giving of anything of value to a foreign official in order to unduly influence a governmental decision or to obtain or keep business for the company.
    • The UKBA applies to any UK citizen or company, and prohibits the bribery of any person, including a public official.
    • The FCPA and UKBA are enforced by the US government and the UK government, respectively.
    • Businesses must comply with the FCPA and UKBA by informing the Guardant Compliance team if any payments, hospitality or benefits of any kind have been requested by public officials, reporting any concerns or suspicious activity to the manager/compliance team, and obtaining certification of compliance.
    • Businesses must also implement training for third parties, such as agents and distributors.
    • A Compliance Officer with support from management and the board of directors establishes corporate compliance program.
    • The tone at the top of a company can have a significant impact on the culture and behavior of employees.
    • Top managers are responsible for setting the tone for the entire organization, and should communicate ethical values and expectations to all levels of the company.
    • Top managers should comply with laws and company policies, and have dedicated resources to support compliance oversight.
    • Policies and procedures should be written clearly and translated into appropriate languages, and should address conflicts of interest, bribery, and other prohibited activities.
    • Internal accounting controls should be in place to detect unusual payments or invoices.
    • Business partner due diligence and required compliance should be investigated and disciplinary action taken if necessary.

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    Description

    Test your knowledge of the US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act (UKBA) compliance requirements, including the prohibition of bribery, enforcement, tone at the top, corporate compliance programs, and internal controls.

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