Question

The Sarbanes-Oxley Act of 2002 has: Group of answer choices reduced the annual compliance costs of all publicly traded firms in the U.S. decreased senior management's involvement in the corporate annual report. decreased the number of U.S. firms going public on foreign exchanges. made officers of publicly traded firms personally responsible for the firm's financial statements.

Answer 1

Answer:

made officers of publicly traded firms personally responsible for the firm's financial statements

Explanation:

• The Sarbanes-Oxley Act, due to corporate fraud, was created to restore investor confidence in financial markets and to fill loopholes in publicly traded companies.
• The law created strong audit committees for companies that traded publicly and made officials (companies) personally responsible for the accuracy of financial statements.a