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Question
Sarbanes-Oxley Act of 2002 is named after which of the following experts?
Sarbanes-Oxley Act of 2002 is named after which of the following experts?
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Solution
The correct option is B Both (B) & (C)
In 2002, Sarbanes–Oxley was named after bill sponsors U.S. Senator Paul Sarbanes and U.S. Representative Michael G. Oxley. As a result of SOX, top management must individually certify the accuracy of financial information. In addition, penalties for fraudulent financial activity are much more severe. Also, SOX increased the oversight role of boards of directors and the independence of the outside auditors who review the accuracy of corporate financial statements.
In 2002, Sarbanes–Oxley was named after bill sponsors U.S. Senator Paul Sarbanes and U.S. Representative Michael G. Oxley. As a result of SOX, top management must individually certify the accuracy of financial information. In addition, penalties for fraudulent financial activity are much more severe. Also, SOX increased the oversight role of boards of directors and the independence of the outside auditors who review the accuracy of corporate financial statements.
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