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CCEP Glossary with 100% correct answers | verified | latest update 2024
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CCEP Glossary with 100% correct answers | verified | latest update 2024
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CCEP GlossaryAccounting and Auditing Enforcement Releases (AAER) - correct answer-Financial reporting
related enforcement actions concerning civil lawsuits brought by the Commission in federal
court and notices and orders concerning the institution and/or settlement of administrative
proceedings.
Accredited Investors - correct answer-Term used by the SEC under Regulation D to refer to
investors who are financially sophisticated and have a reduced need for the protection
provided by certain government filings.
American Institute of Certified Public Accountants - correct answer-Member association
representing the accounting profession - sets ethical standards, auditing standards, and
develops the CPA exam.
American Payroll Association - correct answer-Professional association for individuals
responsible for processing company payrolls
American Recovery and Reinvestment Act of 2009 (ARRA) - correct answer-Commonly
referred to as the Stimulus or Recovery Act: An economic stimulus package with the goals of
creating new jobs and saving existing ones, spurring economic activity and investment in
long-term growth, and to foster unprecedented levels of accountability and transparency in
government spending
Americans with Disabilities Act (ADA) - correct answer-Prohibits discrimination against
people with disabilities in employment, transportation, public accommodation,
communications, and governmental activities.
Annual Report - correct answer-Comprehensive report on a company's activities throughout
the preceding year.
Anti Boycott laws - correct answer-Laws that encourage or require US firms not to participate
in foreign boycotts that the US does not sanction.
Anti-Kickback Law - correct answer-Prohibits the solicitation, receiving, offering, or paying of
any remuneration directly or indirectly in cash or in kind in exchange.
Anti-Money Laundering (AMI) - correct answer-A set of procedures, laws or regulations
designed to stop the practice of generating income through illegal actions.
Antitrust - correct answer-Of or relating to legislation preventing or controlling trusts or other
monopolies, with the intention of promoting competition in business.
Arbitration - correct answer-The submission of a dispute to an unbiased third person
designated by the parties to the controversy, who agree in advance to comply with the
,award—a decision to be issued after a hearing at which both parties have an opportunity to
be heard.
Asian-Pacific Economic Cooperation (APEC) - correct answer-The Asia-Pacific economic
forum supports sustainable economic growth and prosperity in the Asia-Pacific region by
turning policy goals into concrete results and agreements into tangible benefits. Current
members are Australia, Brunei Darussalam, Canada, Chile, People's Republic of China,
Hong Kong China, Indonesia, Japan, Republic Korean, Malaysia, Mexico, New Zealand,
Papua New Guinea, Peru, The Philippines, Russia, Singapore, Chinese Taipei, Thailand,
The United States, and Viet Nam.
Assistant U.S. Attorney - correct answer-US prosecutors who investigate criminal cases and
prosecute the suspects.
Association of Certified Fraud Examiners (ACFE) - correct answer-Anti-fraud organization
and provider of anti-fraud training and education. The mission is to reduce the incident of
fraud and white-collar crime and to assist the Membership in fraud detection and deterrence.
Association of Corporate Counsel (ACC) - correct answer-The in-house bar association for
professional corporate counsel who practice in legal departments globally.
Attestation - correct answer-The affirmation by signature, usually on a printed form, that the
action outlined has been accomplished by the individual signing; e.g., the individual has read
the code of conduct and agreed to adhere to its principles.
Attorney-Client Privilege - correct answer-A legally accepted policy that communication
between a client and attorney is confidential in the course of the professional relationship
and that such communication cannot be disclosed without the consent of the client. Its
purpose is to encourage full and frank communication between attorneys and their clients.
Audit - correct answer-An official inspection of an individual's or organization's accounts,
typically by an independent body.
Audit Committee - correct answer-In US publicly traded companies, it is an operating
committee of the board of directors charge with oversight of financial reporting and
disclosure.
Audit, baseline - correct answer-A systematic inspection of records, policies, and procedures
with the goal to establish a set of benchmarks for comparison for future inspections.
Audit, concurrent - correct answer-An ongoing inspection of records, policies, and
procedures at a given point in time in which identified potential problems are investigated as
they arise (e.g., pre-published financial statements).
Audit, retrospective - correct answer-A comprehensive inspection of records, policies, and
procedures done usually in anticipation of launching a compliance program. All potential
problems are identified and then investigated (e.g., published financial statements, historical
audit).
, Bankruptcy - correct answer-Legal status of person or entity that cannot repay the debts it
owes to creditors.
Benchmarking - correct answer-The measurement of performance against "best practice"
standards. Best Practices - Generally recognized superior performance by organizations in
operational and/or financial processes.
Blog - correct answer-A regularly update website typically written in an informal or
conversational style.
Board of Directors (BoD) - correct answer-Body of elected or appointed members who jointly
oversee the activities of a company or organization.
BRIC Countries - correct answer-Brazil, Russia, India, China
Bring Your Own Device (BYOD) - correct answer-Policy of permitting employees to bring
personally-owned mobile devices (laptops, tablets, smartphones) to their workplace, and to
use those devices to access privileged company information and applications.
Bureau of Industry and Security (BIS) - correct answer-Part of the US Department of
Commerce responsible for implementing and enforcing the laws that regulate the export and
re-export of commercial items
Bureau of National Affairs (BNA) - correct answer-Bloomberg BNA, formerly known as the
Bureau of National Affairs, Inc. Wholly-owned subsidiary of Bloomberg LP, and a source of
legal, tax, regulatory, and business information for professionals.
C-Suite - correct answer-Term used to collectively refer to a corporation's most senior
executives. Gets its name because top senior executives' titles tend to start with the letter C,
for chief (as in Chief Executive Officer, Chief Operating Officer, Chief Financial Officer).
CAN-SPAM Act - correct answer-Law enacted in 2003 that sets the rules for commercial
email, establishes requirements for commercial messages, gives recipients the right to have
you stop emailing them, and lists penalties for violations.
Caremark International Derivative Litigation - correct answer-The 1996 U.S. civil settlement
of Caremark International, Inc. in which an imposed corporate integrity agreement precluded
Caremark from providing health care in certain forms for a period of five years. Also suggests
that the failure of a corporate director to attempt in good faith to institute a compliance
program in certain situations may be a breach of a director's fiduciary obligation.
Center for Audit Quality - correct answer-Autonomous, nonpartisan, nonprofit public policy
advocacy organization dedicated to enhancing investor confidence and public trust in the
global capital markets.
Certified Compliance and Ethics Professional (CCEP) - correct answer-Someone with
knowledge of relevant regulations and expertise in compliance processes sufficient to assist
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