Asked by Duncan Jackman on Jun 29, 2024
Verified
The Sarbanes-Oxley Act applies only to companies whose stock is traded on public exchanges.
Sarbanes-Oxley Act
U.S. legislation passed in 2002 aimed at protecting investors from fraudulent financial reporting by corporations.
Public Exchanges
Marketplaces where stocks, bonds, and other securities are traded among investors.
- Learn the impact of Sarbanes-Oxley Act specifically on public companies.
Verified Answer
LB
Lexie ButcherJul 01, 2024
Final Answer :
True
Explanation :
The Sarbanes-Oxley Act applies to all companies that are required to file reports with the Securities and Exchange Commission (SEC), which includes companies whose stock is traded on public exchanges.
Learning Objectives
- Learn the impact of Sarbanes-Oxley Act specifically on public companies.