Which among the following acts has been passed by the U.S. Congress to protect investors from the possibility of fraudulent accounting activities by corporations?
A.
Gramm-Leach-Bliley act
B.
Federal Information Security Management act of 2002
C.
Health Insurance Probability and Accountability act of 1996
D. Sarbanes-Oxley act of 2002
The Sarbanes-Oxley Act of 2002 (often abbreviated as SOX) was passed by the U.S. Congress to protect investors from fraudulent accounting activities by corporations. It was enacted in response to a series of corporate accounting scandals in the early 2000s, such as Enron and WorldCom. The act introduced regulations and requirements for public companies to enhance the accuracy and reliability of financial reporting and to increase transparency and accountability in corporate governance.
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10 months, 4 weeks ago