The _____ was/were enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the early 2s.
A)Defense Industry Initiative on Business Ethics and Conduct
B)Sarbanes-Oxley Act
C)Federal Sentencing Guidelines for Organizations
D)Foreign Corrupt Practices Act
E)Dodd-Frank Wall Street Reform and Consumer Protection Act

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act was enacted in 2002 in response to the accounting scandals of the early 2000s, such as Enron and WorldCom. Its purpose was to restore confidence in financial reporting and business ethics by requiring greater transparency and accountability from public companies. The other options listed are also regulations or guidelines related to business ethics and conduct, but they were not specifically enacted in response to the accounting scandals of the early 2000s.

The _____ Was/were Enacted to Restore Confidence in Financial Reporting