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Question 3 - 112-51 discussion

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Which of the following acts was enacted in 2002 and aims to protect the public and investors by increasing the accuracy and reliability of corporate disclosures?

A.
Sarbanes-Oxley Act (SOX)
Answers
A.
Sarbanes-Oxley Act (SOX)
B.
Digital Millennium Copyright Act (DMCA)
Answers
B.
Digital Millennium Copyright Act (DMCA)
C.
Gramm-Leach-Bliley Act
Answers
C.
Gramm-Leach-Bliley Act
D.
Payment Card Industry-Data Security Standard (PCI-DSS)
Answers
D.
Payment Card Industry-Data Security Standard (PCI-DSS)
Suggested answer: A

Explanation:

The Sarbanes-Oxley Act (SOX) is a US law that was enacted in 2002 in response to the corporate scandals involving Enron, WorldCom, and others. The SOX aims to protect the public and investors by increasing the accuracy and reliability of corporate disclosures, such as financial statements, audit reports, and internal controls. The SOX also establishes the Public Company Accounting Oversight Board (PCAOB) to oversee the auditing of public companies and imposes criminal penalties for fraud and non-compliance12.

Reference: Network Defense Essentials - EC-Council Learning, Sarbanes-Oxley Act of 2002 (SOX) | U.S. Department of Labor

asked 18/09/2024
Kurt Woodfin
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