Foreign Corrupt Practices Act Definition | Becker
Accounting Dictionary
Foreign Corrupt Practices Act
- A federal law that generally prohibits the payment of bribes to foreign officials to assist in obtaining or retaining business. A U.S. federal law requiring any company having publicly traded stock to maintain records that accurately and fairly represent the company's transactions, and have an adequate system of internal accounting controls. Enacted with the intent to bring an end to bribery of foreign officials.