Asked by Femina Asmani on Jun 10, 2024
Verified
The passing of the Sarbanes-Oxley Act in 2002 led to more relaxed stipulations on legal and financial accountability.
Sarbanes-Oxley Act
A U.S. federal law enacted in 2002 to protect investors from fraudulent financial reporting by corporations, introducing stringent requirements for corporate governance and financial practices.
Legal Accountability
The requirement for individuals or organizations to be answerable to laws and regulations, facing consequences for legal violations.
Financial Accountability
The obligation of individuals or organizations to explain how their money was spent and to demonstrate that they have used resources efficiently and effectively.
- Gain insight into the significance of financing electoral campaigns and the legal ramifications in corporate governance.
Verified Answer
JC
Jordan CampbellJun 11, 2024
Final Answer :
False
Explanation :
The passing of the Sarbanes-Oxley Act in 2002 actually led to stricter stipulations on legal and financial accountability, particularly for publicly traded companies.
Learning Objectives
- Gain insight into the significance of financing electoral campaigns and the legal ramifications in corporate governance.