The Sarbanes-Oxley Act of 2002 (SOX) was passed largely in response to:
A) the corporate accounting scandals of the previous years
B) the increase in the budget deficits
C) the increase in the trade deficits
D) none of the above

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002 was passed largely in response to the corporate accounting scandals of the previous years, such as Enron and WorldCom. The act aimed to improve the accuracy and reliability of corporate financial reporting and increase corporate transparency and accountability.

The Sarbanes-Oxley Act of 2002 (SOX) Was Passed Largely in Response