___________ requires that firms in the private sector provide procedures for anonymous reporting of accusations of fraud.

Question

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The Sarbanes-Oxley Act (SOX) requires that firms in the private sector provide procedures for anonymous reporting of accusations of fraud. SOX was enacted in 2002 in response to a number of major corporate and accounting scandals, such as Enron and WorldCom. Its purpose was to improve corporate governance and prevent fraudulent accounting practices. One of the key provisions of the law is the requirement for companies to establish an anonymous reporting mechanism for employees to report suspected fraud or other financial improprieties.

___________ Requires That Firms in the Private Sector Provide Procedures