The primary purpose of which law was to "set new enhanced standards of financial disclosure for publicly traded companies and accounting firms"?
A)Commerce Act of 2000
B)Consumer Product Safety Act of 1972
C)Economic Espionage Act of 1996
D)Sarbanes-Oxley Act of 2002

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002 was passed by the U.S. Congress to set new enhanced standards of financial disclosure for publicly traded companies and accounting firms, in response to the financial scandals that occurred in the early 2000s. It aims to restore investor confidence in the accuracy and transparency of financial statements, by requiring companies to establish internal controls and procedures for financial reporting, and by increasing penalties for financial fraud.

The Primary Purpose of Which Law Was to "Set New