Which of the following Federal Acts required the SEC to develop guidelines for all publicly traded companies to report on management's responsibilities for, and assessment of, the internal control system?
A) Securities Act of 1933,
B) The Securities Exchange Act of 1934
C) The Foreign Corrupt Practices Act of 1977
D) The Sarbanes-Oxley Act of 2002

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002, also known as the Public Company Accounting Reform and Investor Protection Act, requires the SEC to develop guidelines for all publicly traded companies to report on management's responsibilities for, and assessment of, the internal control system. This act was passed in response to accounting scandals such as Enron and WorldCom that led to significant financial losses for investors.

Which of the Following Federal Acts Required the SEC to Develop