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Financial Analysis MCQs

In 2002, the US passed the Sarbanes-Oxley law which ____.

did not change any function of the Boards of Directors of publicly traded corporations

gave the Financial Accounting Standards Board the oversight responsibility for public auditing firms

does not change the responsibilities of independent auditors

was developed in response to the accounting scandals at Enron, Tyco, WorldCom and others

protects senior executives from prosecution for accounting fraud if they are unaware of its existence

Answer

Correct Answer: was developed in response to the accounting scandals at Enron, Tyco, WorldCom and others

Explanation:

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