Which of the following statements is true about the Sarbanes-Oxley Act of 2002?
A)In case of noncompliance,it limits charges to heavy fines; it does not include prison terms for executives.
B)Organizations spend millions of dollars each year to comply with regulations under the Sarbanes-Oxley Act.
C)It imposes no criminal penalty for corporate governing and accounting lapses.
D)Retaliation against whistle-blowers is not included as a violation under the law.
E)It was passed in response to illegal and unethical behavior by employees toward the management.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002 requires organizations to comply with strict regulations regarding their financial reporting and accounting practices. Compliance can be expensive, and organizations do spend millions of dollars each year to ensure they meet the requirements of the law. The other statements are false. The Act does include criminal penalties for corporate governing and accounting lapses, limits retaliation against whistle-blowers, and was passed in response to illegal and unethical behavior by executives toward shareholders and the public.

Which of the Following Statements Is True About the Sarbanes-Oxley