The Sarbanes-Oxley Act has far-reaching consequences for financial reporting and the CPA profession.

Question

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The Sarbanes-Oxley Act, also known as the Public Company Accounting Reform and Investor Protection Act, was enacted in 2002 to improve corporate governance and financial reporting. It had significant impact on the accounting profession, including the creation of the Public Company Accounting Oversight Board (PCAOB) and more stringent requirements for financial disclosures and internal controls.

The Sarbanes-Oxley Act Has Far-Reaching Consequences for Financial Reporting and the CPA