Question

What is the name of the law that Congress passed to prevent financial statement fraud, make financial reports more transparent, protect investors, strengthen internal controls, and punish executives who perpetrate fraud?

Answer 1

Major Provisions of the Sarbanes-Oxley (SOX) Act of 2002
Three of its key provisions are commonly referred to by their section numbers: Section 302, Section 404, and Section 802. Because of the Sarbanes-Oxley Act of 2002, corporate officers who knowingly certify false financial statements can go to prison.