What is the name of the U.S. federal law that addresses accounting transparency and bribery of foreign officials?

The U.S. federal law that addresses accounting transparency and the bribery of foreign officials is known as the Foreign Corrupt Practices Act (FCPA). This law was enacted to prevent U.S. companies and individuals from engaging in corrupt practices while conducting business abroad. Specifically, it prohibits the payment of bribes to foreign officials to gain or retain business. The FCPA also requires businesses to maintain accurate books and records, which provides transparency in accounting practices.

The significance of the FCPA lies in its dual focus on preventing corruption and promoting ethical business practices. It underscores the commitment of the U.S. government to uphold international standards of conduct in business dealings. The law impacts international business operations by imposing legal obligations on companies to ensure compliance with anti-bribery measures, ultimately fostering fair competition in the global market.