which statement about the Sarbanes-Oxley act is true
None.
To determine which statement about the Sarbanes-Oxley Act is true, we can review the information related to this act, which was passed by the United States Congress in 2002. Here are a few statements that can help identify the true one:
1. The Sarbanes-Oxley Act was enacted to regulate corporate financial practices and corporate governance.
2. It was named after its sponsors, Senator Paul Sarbanes and Representative Michael Oxley.
3. The act was a response to major corporate accounting scandals, such as Enron and WorldCom, which resulted in significant financial losses for investors.
4. It requires public companies to perform internal controls and establish procedures for financial reporting to ensure accuracy and transparency in financial statements.
5. Sarbanes-Oxley Act compliance is mandatory for all publicly traded companies in the United States.
By verifying these statements, you can identify which one is true about the Sarbanes-Oxley Act.