A far-reaching change to organizational control and accounting systems, making securities fraud a criminal offense, was accomplished by which of the following?a. Foreign Corrupt Practices Actb. Dodd-Frank Wall Street Reform and Consumer Protection Actc. Sarbanes-Oxley Actd. Defense Industry Initiative on Business Ethics and Conducte. Consumer Protection Act

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19-12-2022
Business

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A far-reaching change to organizational control and accounting systems, making securities fraud a criminal offense, was accomplished by which of the following?a. Foreign Corrupt Practices Actb. Dodd-Frank Wall Street Reform and Consumer Protection Actc. Sarbanes-Oxley Actd. Defense Industry Initiative on Business Ethics and Conducte. Consumer Protection Act

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Tutorconsortium509 Tutorconsortium509 · Answer 1 · 2022-12-22T04:29:51-05:00

The Sarbanes-Oxley Act, which made securities fraud a crime, represented a significant change to organizational control and accounting procedures.

Sarbanes-Oxley Act: What Is It?

The Sarbanes-Oxley Act (SOX), a federal statute, was passed in 2002 with support from both political parties in Congress in response to numerous accounting scandals in the early 2000s. Its objectives were to improve public disclosure and auditing.

What conditions apply to SOX?

An Internal Control Report is a requirement of the Sarbanes Oxley Act. for all financial reports. This demonstrates that a corporation's economic data is accurate and that sufficient procedures have been established to protect it. Also necessary are year-end financial disclosure reports.

To know more about Sarbanes-Oxley Act visit :

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