The Sarbanes-Oxley Act (SOX), which was enacted in 2002, required MNCs and other firms to implement an internal reporting process that could be easily monitored by executives and the board of directors.

Question

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This statement is true. The Sarbanes-Oxley Act (SOX) did require MNCs and other firms to implement an internal reporting process that could be easily monitored by executives and the board of directors. This was done to improve transparency and accountability in corporate reporting and reduce the risk of financial fraud.

The Sarbanes-Oxley Act (SOX), Which Was Enacted in 2002, Required