The Sarbanes-Oxley Act (SOX) Was NOT Enacted to

question 54

Multiple Choice

The Sarbanes-Oxley Act (SOX) was NOT enacted to

• A) help prevent fraud and poor financial reporting practices.
• B) ensure the act was applied internationally.
• C) enable the SEC to increase its policing efforts.
• D) introduce new independence rules for auditors.

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Definitions:

Intestacy Laws

The body of law that governs the distribution of a deceased person's estate when they die without a valid will.

Estate

The collective assets and liabilities of a person, especially considered in the context of their will or the administration of their property after death.

Codicil

A written supplement or modification to a will. A codicil must be executed with the same formalities as a will.

Per Capita

A statistical measure that divides an aggregate amount by the number of units or individuals to determine the average amount per person.