The 11 sections (titles) in the Sarbanes-Oxley Act of 2002 _____.
A) require corporations to payout all the earnings as dividend
B) establish standards for accountability and responsibility in reporting financial information
C) allow management to take actions resulting in large gains to them and losses to stockholders
D) allow management to use confidential information for personal gains
E) require stockholders to make capital structure decisions

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act establishes standards for accountability and responsibility in reporting financial information. It includes sections on Public Company Accounting Oversight Board, Auditor Independence, Corporate Responsibility, Enhanced Financial Disclosures, Analyst Conflicts of Interest, Commission Resources and Authority, Studies and Reports, Corporate and Criminal Fraud Accountability, White Collar Crime Penalty Enhancement, and Corporate Tax Returns. None of the other choices accurately describe the sections of the act.

The 11 Sections (Titles) in the Sarbanes-Oxley Act of 2002