Please help me so that I can complete the following:
The chief financial officer at Barrington is concerned if the new accounting information system is compliant with the new laws enacted by the U.S. Congress, Foreign Corrupt Practices Act, and Sarbanes-Oxley Act of 2002. The CFO has requested that you and your team research both acts and prepare a report for the executive staff based on your findings. Along with the report, he wants the team to make a presentation to the executive staff highlighting how the team has satisfied these requirements in the design of the new AIS.
Research the Library and available resources to become familiar with the Foreign Corrupt Practices Act (FCPA) and Sarbanes-Oxley Act of 2002. Write a one-page report on the purpose of each act and the impact they have had on publicly held companies and certified public accountant (CPA) firms. (references).
As a group, discuss and consolidate the research findings. Use the agreed upon information to prepare a PowerPoint slide presentation outlining the findings and how the team has incorporated requirements of these acts into the new AIS for Barrington. Discuss the FCPA as it governs Barrington's foreign operations.
The purpose of Foreign Corrupt Practices Act (FCPA); is two fold, first it disallows the bribery of foreign government officials by US individuals and at the same time lays down accounting and book-keeping practices that deter the generation of slush funds. The anti bribery provision of the Foreign Corrupt Practices Act are designed that if a US individual is unable to defend their actions under Foreign Corrupt Practices Act bribery provisions, there can be server punishments for the companies. The companies ...
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