The Sarbanes-Oxley Act of 2002

Question

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The Sarbanes-Oxley Act of 2002 applies to listed companies. It was enacted to regulate financial reporting and corporate governance practices of listed companies in the United States. The law was introduced in response to corporate scandals such as Enron and WorldCom, and its primary aim is to improve transparency and accountability in corporate America. It does not apply to all U.S. firms or issuers whose securities are traded on an over-the-counter bulletin board.