______ was hailed as one of the most important pieces of legislation governing the behavior of accounting firms and financial markets since the SEC legislation of the 1930s.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act, also known as the Public Company Accounting Reform and Investor Protection Act, was passed in response to accounting scandals such as Enron and WorldCom. It established new or expanded requirements for public companies and accounting firms, including the establishment of the Public Company Accounting Oversight Board (PCAOB) to oversee the accounting industry. It is considered one of the most significant pieces of financial regulation since the Securities Exchange Act of 1934.

______ Was Hailed as One of the Most Important Pieces