Reliance on self-regulation of the accounting profession has changed as a result of its perceived failure to detect the problems leading to the corporate scandals of 2002/2003.

Question

Quizplus · Accepted Answer

The perceived failure of self-regulation led to the passage of the Sarbanes-Oxley Act in 2002, which increased regulation and oversight of the accounting profession.

Reliance on Self-Regulation of the Accounting Profession Has Changed as a Result