As a result of the Sarbanes-Oxley Act, firms were able to reduce their costs of compiling and reporting financial information.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act, enacted in 2002, actually increased the costs for firms in terms of compiling and reporting financial information due to the implementation of more stringent regulatory requirements aimed at improving the accuracy and reliability of corporate disclosures.

As a Result of the Sarbanes-Oxley Act, Firms Were Able