CCSP · Question #567
In the wake of many scandals with major corporations involving fraud and the deception of investors and regulators, which of the following laws was passed to govern accounting and financial records…
The correct answer is D. SOX. The Sarbanes-Oxley Act (SOX) regulates the financial and accounting practices used by organizations in order to protect shareholders from improper practices and accounting errors.The Health Insurance Portability and Accountability Act (HIPAA) pertains to the protection of…
Question
In the wake of many scandals with major corporations involving fraud and the deception of investors and regulators, which of the following laws was passed to govern accounting and financial records and disclosures?
Options
- AGLBA
- BSafe Harbor
- CHIPAA
- DSOX
How the community answered
(31 responses)- A6% (2)
- B3% (1)
- D90% (28)
Explanation
The Sarbanes-Oxley Act (SOX) regulates the financial and accounting practices used by organizations in order to protect shareholders from improper practices and accounting errors.The Health Insurance Portability and Accountability Act (HIPAA) pertains to the protection of patient medical records and privacy. The Gramm-Leach-Bliley Act (GLBA) focuses on the use of PII within financial institutions. The Safe Harbor program was designed by the US government as a way for American companies to comply with European Union privacy laws.
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