Which of the following acts was enacted in 2002 and aims to protect the public and investors by increasing the accuracy and reliability of corporate disclosures?

The correct answer is A. Sarbanes-Oxley Act (SOX). The Sarbanes-Oxley Act (SOX) is a US law that was enacted in 2002 in response to the corporate scandals involving Enron, WorldCom, and others. The SOX aims to protect the public and investors by increasing the accuracy and reliability of corporate disclosures, such as financial s

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Options

ASarbanes-Oxley Act (SOX)
BDigital Millennium Copyright Act (DMCA)
CGramm-Leach-Bliley Act
DPayment Card Industry-Data Security Standard

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(52 responses)

A
92% (48)
B
2% (1)
C
2% (1)
D
4% (2)

Explanation

The Sarbanes-Oxley Act (SOX) is a US law that was enacted in 2002 in response to the corporate scandals involving Enron, WorldCom, and others. The SOX aims to protect the public and investors by increasing the accuracy and reliability of corporate disclosures, such as financial statements, audit reports, and internal controls. The SOX also establishes the Public Company Accounting Oversight Board (PCAOB) to oversee the auditing of public companies and imposes criminal penalties for fraud and non-compliance.

Topics

#Sarbanes-Oxley Act#regulatory compliance#corporate disclosures#investor protection

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