Which of the following statements is true of the Sarbanes-Oxley Act?

Question

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Because reliance on corporate boards to police themselves did not seem to be working, Congress passed the Public Accounting Reform and Investor Protection Act of 2002, commonly known as the Sarbanes-Oxley Act, which is enforced by the Securities and Exchange Commission (SEC). It seeks to provide oversight in terms of direct lines of accountability and responsibility.

Which of the Following Statements Is True of the Sarbanes-Oxley