Which of the following did the government formulate to penalize corporate wrongdoing?

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act was formulated in 2002 and is aimed at penalizing corporate wrongdoing by imposing stricter regulations on public companies and auditing firms. It was enacted in response to corporate accounting scandals like Enron and WorldCom that shook the financial markets and eroded public trust in the integrity of corporate reporting. The act established a new independent oversight board for the accounting profession, increased penalties for white-collar crimes, strengthened protections for whistleblowers, and established new disclosure requirements for public companies.

Which of the Following Did the Government Formulate to Penalize