Congress passed this federal law for the purpose of preventing financial statement fraud,to make financial reports more transparent and to strengthen the internal control of public companies.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002 was passed by Congress with the purpose of preventing financial statement fraud, increasing transparency in financial reporting, and strengthening internal controls of public companies to protect investors. The act established new or enhanced requirements for public company boards, management, and public accounting firms.

Congress Passed This Federal Law for the Purpose of Preventing