An act passed in response to the wave of corporate accounting scandals is the
A) Saxon-Ordanly Act.
B) Sarbanes-Oxley Act.
C) Sardonic-Oxone Act.
D) Sorbine-Oxide Act.

Question

Quizplus · Accepted Answer

The act passed in response to the wave of corporate accounting scandals is the Sarbanes-Oxley Act, often abbreviated as "SOX". It was passed in 2002 and aimed to increase transparency and accountability in corporate accounting practices. It established new regulations for corporate governance, financial reporting, and internal controls, among other things. The act is named after its sponsors, Senator Paul Sarbanes and Representative Michael Oxley.

An Act Passed in Response to the Wave of Corporate