The U.S. Congress passed which of the following legislative acts to enhance the accuracy and reliability of corporate financial reporting, strengthen corporate governance, and improve public accounting regulation?
A) Public Company Accounting Oversight Act
B) Financial Accounting Standards Responsibility Act
C) Sarbanes-Oxley Act
D) IASB Conformity Act
E) Securities and Exchange Act

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act was passed in response to financial scandals in the early 2000s (e.g., Enron, WorldCom) to enhance the accuracy and reliability of corporate financial reporting, strengthen corporate governance, and improve public accounting regulation.

The US Congress Passed Which of the Following Legislative Acts to to Enhance