Survey Of Accounting
Survey Of Accounting
4th Edition
ISBN: 9780077862374
Author: Edmonds, Thomas P.
Publisher: Mcgraw-hill Education,
Question
Book Icon
Chapter 4, Problem 1Q
To determine

Ascertain the situation which motivated Congress to pass the Sarbanes–Oxley Act (SOX) of 2002.

Expert Solution & Answer
Check Mark

Explanation of Solution

Sarbanes–Oxley Act (SOX) of 2002:

SOX are the act passed by the government to address the corporate scandals. This act regulates and assesses the internal control system of publicly traded companies.

  • The devastating effects of the scandals of Company E and Company W motivated Congress to pass the Sarbanes–Oxley Act (SOX) of 2002.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
2 What was the Sarbanes–Oxley Act designed to accomplish? What were the major factors that led the US Congress to develop the Sarbanes–Oxley Act?
Hi can you help me to solve this question in detail?
Describe the Sarbanes Oxley act of 202 and its influence on ethical behavior in the United States.
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Text book image
Auditing: A Risk Based-Approach (MindTap Course L...
Accounting
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Cengage Learning
Text book image
Entrepreneurial Finance
Finance
ISBN:9781337635653
Author:Leach
Publisher:Cengage
Text book image
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:9780357110362
Author:Murphy
Publisher:CENGAGE L
Text book image
Business/Professional Ethics Directors/Executives...
Accounting
ISBN:9781337485913
Author:BROOKS
Publisher:Cengage
Text book image
Business Its Legal Ethical & Global Environment
Accounting
ISBN:9781305224414
Author:JENNINGS
Publisher:Cengage