What is the Foreign Corrupt Practices Act, and how does it relate to corporate social responsibility?

The Foreign Corrupt Practices Act is a law that was implemented in 1977 to forbid foreign officials from taking any form of bribe to assist investors in retaining or obtaining business. Moreover, it consists of three essential parts that include keeping the company's books and accounts accurate. It also prohibits American officials from being bribed by any foreign officials. In addition, it requires internal control systems to be maintained by issuers recognized by the securities and the exchange commission. Foreign corrupt practices enable companies to maintain a competent corporate social responsibility by ensuring that it eliminates any form of corruption hence enhancing fair competition in the market.