Question

an effect of the sarbanes-oxley act of 2002 was to: multiple choice reduce the circumstances in which one may file securities with the sec. eliminate sec involvement with sales of securities. reduce the accounting profession’s level of self-regulation. require periodic peer reviews of large cpa firms performed by the general accounting office.

Answer 1

An effect of the Sarbanes-Oxley Act of 2002 was to reduce the accounting profession’s level of self-regulation.

What did the Sarbanes-Oxley Act of 2002 do?

The Sarbanes-Oxley Act of 2002 was passed in the wake of the Enron and WorldCom financial sagas in order to reduce the incidence of companies misleading their stockholders.

The Sarbanes-Oxley Act of 2002 led to more regulation over the accounting profession and a reduction in their self-regulation because large accounting companies had been implicated in the saga.

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