The major components of the Sarbanes-Oxley Act are:

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All of the above components are major aspects of the Sarbanes-Oxley Act, which was enacted in response to corporate accounting scandals in the early 2000s. The act aims to improve transparency and accountability in financial reporting and prevent fraudulent activities in publicly traded companies. The accounting regulation component establishes the Public Company Accounting Oversight Board (PCAOB) to oversee audits and limit potential conflicts of interest for auditors who also provide consulting services to clients. The audit committee component mandates the appointment of independent financial experts to audit committees to enhance the oversight of financial reporting. The internal control assessment component requires public companies and their auditors to evaluate the effectiveness of internal controls for financial reporting and fraud prevention. The executive responsibility component holds top executives accountable for financial reporting accuracy by requiring them to sign off on quarterly and annual financial statements and return any bonuses related to fraudulent earnings overstatements.

The Major Components of the Sarbanes-Oxley Act Are