Which of the following is true under the Sarbanes-Oxley Act of 2002?
A) To defraud shareholders of a publicly traded company is considered a misdemeanor.
B) It covers civil and criminal reforms that expand the accountability of corporate officers but does not include accounting reforms.
C) It states that there should be procedures to ensure legal protection for whistleblowers.
D) It states that chief executive officers and chief financial officers cannot be held liable for any misconduct.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002 includes civil, criminal, and accounting reforms that drastically expand the accountability demanded of corporate officers and directors. Under the law, procedures for whistleblowing, including anonymous reporting, must be established, and employees who "blow the whistle" on their employers for fraud are offered legal protection.

Which of the Following Is True Under the Sarbanes-Oxley Act