The Sarbanes-Oxley Act called for ________.
A)increased pollution control measures from the government
B)more disclosure and transparency of corporate financial information
C)limited accountability of directors and executives of corporates
D)more social contribution from companies in the United States

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act (also known as SOX) was a law passed in 2002 in response to corporate accounting scandals such as Enron and WorldCom. Its main provisions were to increase transparency and disclosure of corporate financial information, including requirements for greater oversight by corporate boards and more thorough auditing by external auditors. It also imposed greater accountability on executives and directors for financial wrongdoing. There were no provisions related to pollution control, social contribution, or limited accountability.

The Sarbanes-Oxley Act Called for ________