What Should an Auditor Do When Becoming Aware of Violations

question 23

Multiple Choice

What should an auditor do when becoming aware of violations of the FCPA?

• A)Contact foreign officials in the country where the client has business operations.
• B)Notify the audit committee about the violations,their circumstance,and the effect on the financial statements.
• C)Contact the U.S.marshals.
• D)Design internal controls to deter improper payments.

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Definitions:

Performance Reviews

Formal assessments in which the work performance of an employee is evaluated and discussed, often leading to feedback or developmental plans.

Corrective Action Memos

Written documents issued to address and rectify problems or deviations identified in a procedure or behavior, ensuring compliance and improvement in performance.

Marketing Dashboards

Customizable interfaces displaying key marketing metrics and KPIs to help businesses track performance and make informed decisions.

Implementation Phase

A stage in a project or plan where strategies are executed or deployed, following the initial planning stages.