In response to accounting scandals in 2002, the federal government passed legislation requiring that corporate directors have a certain level of expertise with financial information and mandating that chief executive officers personally certify the accuracy of financial statements. What is the name of this legislation? a) the Kennedy-Lott Actb) the Accountant Reliability Actc) the Sarbanes-Oxley Actd) the 24th amendment to the Constitution

Question

Patches

Business

14 April, 02:29

In response to accounting scandals in 2002, the federal government passed legislation requiring that corporate directors have a certain level of expertise with financial information and mandating that chief executive officers personally certify the accuracy of financial statements. What is the name of this legislation? a) the Kennedy-Lott Actb) the Accountant Reliability Actc) the Sarbanes-Oxley Actd) the 24th amendment to the Constitution

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Donut · Answer 1

The answer is: C) the Sarbanes-Oxley Act

Explanation:

The Sarbanes-Oxley Act (July 30th, 2002) was designed to oversee the financial reporting for corporations' finance professionals. One of its main goals is to protect investors by improving the accuracy and reliability of disclosed corporate financial statements.