What legislation was passed in the United States in 2002 to require more managerial responsibility for company activities and outcomes?
A) White Collar Crime Act
B) Morgan-Zander Act
C) Kellner-Rollins Act
D) Sarbanes-Oxley Act

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act was passed in 2002 to require more managerial responsibility for company activities and outcomes. This was in response to corporate scandals such as Enron and WorldCom. The act requires companies to establish internal controls and reporting systems, and executives are required to certify the accuracy of financial statements. It also increases penalties for white collar crime.

What Legislation Was Passed in the United States in 2002