The ________ Act, enacted by Congress in 2002, requires public companies to adopt codes of ethics and establishes criminal penalties for companies that partake in violations.
A) Glass-Steagall
B) Sarbanes-Oxley
C) False Claims
D) Business Norms

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act, also known as the Public Company Accounting Reform and Investor Protection Act, was enacted by Congress in 2002 after a series of corporate scandals. The act requires public companies to adopt and disclose a code of ethics for senior financial officers and establishes criminal penalties for companies that engage in violations such as fraud, insider trading, and false statements. The act also established the Public Company Accounting Oversight Board to oversee the accounting profession.

The ________ Act, Enacted by Congress in 2002, Requires Public