Answer to Question #72433 in Accounting for Brodie

Question

FNSACC502 9
List five legislation or compliance requirements that can affect transaction recording.

Answer 1

Following are the five legislation that can affect the record keeping
1. Sarbanes-Oxley Act of 2002
2. 21 CFR Part 11 Electronic Records; Electronic Signatures
3. US GAAP 2017
4. International accounting standard
5. FCPA Recordkeeping and Internal Controls Provisions [15 U.S.C. §78m]