The Sarbanes-Oxley Act (SOX) was enacted in 2002 required MNCs and other firms to implement an internal reporting process that could be easily monitored by executives and the board of directors.

Question

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The statement is true. The Sarbanes-Oxley Act (SOX) enacted in 2002 required MNCs and other firms to implement an internal reporting process that could be easily monitored by executives and the board of directors. SOX was enacted to improve the accuracy and reliability of corporate disclosures, increase transparency, and strengthen the internal controls of companies.

The Sarbanes-Oxley Act (SOX) Was Enacted in 2002 Required MNCs