The purpose of the Sarbanes-Oxley Act is to require all companies to prepare financial statements.

Name: The purpose of the Sarbanes-Oxley Act is to require all companies to prepare financial statements.
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The purpose of the Sarbanes-Oxley Act is actually to improve corporate accountability and financial transparency in order to protect investors and prevent corporate fraud. The act does impose certain requirements on companies with regard to financial reporting, but that is not its sole purpose.

The Purpose of the Sarbanes-Oxley Act Is to Require All