Assignment
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 available resources
• Write a report of 1,000-2,000 words on:
o The purpose of the Foreign Corrupt Practices Act (FCPA)
o The purpose of the Sarbanes-Oxley Act of 2002
o The impact both acts have had on
- Publicly held companies and
- Certified Public Accountant (CPA) firms.
• Combine both of these acts into the new AIS for both the domestic and foreign operations of Barrington.
• Discuss the FCPA as it governs Barrington's foreign operations.