The primary purpose of the Sarbanes Oxley Act of 2002 was to:
A)protect investors from corporate abuses.
B)apply restrictions on foreign firms operating in the U.S.
C)protect financial managers from investors.
D)decrease audit costs for U.S.firms.
E)reduce corporate revenues.

Question

Quizplus · Accepted Answer

The Sarbanes Oxley Act of 2002 was passed in response to corporate scandals such as Enron and WorldCom, with the primary goal of protecting investors from fraudulent accounting practices by imposing stricter regulations and requirements on public companies in the United States.

The Primary Purpose of the Sarbanes Oxley Act of 2002