5 Questions
What is the purpose of the US Foreign Corrupt Practices Act (FCPA)?
To prohibit the giving of anything of value to a foreign official
What is the purpose of the UK Bribery Act (UKBA)?
To apply to any UK citizen or company
What is the role of top managers in setting the tone for the entire organization?
To comply with applicable policies and procedures
Who is responsible for enforcing the FCPA and UKBA?
The US government and the UK government
How can the tone at the top of a company impact employee morale and productivity?
By setting ethical values and expectations
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 play a critical role in 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 applicable policies and procedures, and take appropriate action when violations are detected.
- Top managers should also devote resources to ensuring compliance with regulations and other mandates, and to providing employees with training on these topics.
- The tone at the top of a company can have a significant impact on employee morale and productivity.
Test your knowledge of the Foreign Corrupt Practices Act (FCPA), the UK Bribery Act (UKBA), and corporate compliance with this quiz. Learn about the laws governing bribery, enforcement by governments, and the role of top managers in setting the tone for compliance.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
