The Goal of the Sarbanes­Oxley Act Was to Renew Investor's

question 59

True/False

The goal of the Sarbanes­Oxley Act was to renew investor's trust in corporate executives and their firm's financial
reports following numerous financial scandals in the early 2000s.

---

Definitions:

FICA

FICA refers to the Federal Insurance Contributions Act, which is a U.S. law that requires a payroll tax to fund Social Security and Medicare programs.

OASDI

An acronym for Old-Age, Survivors, and Disability Insurance, a comprehensive federal benefits program that provides benefits to retired people, the disabled, and survivors of deceased workers.

Medicare

A federal health insurance program in the United States primarily for people aged 65 and older, as well as for some younger people with disabilities.

FUTA

FUTA (Federal Unemployment Tax Act) is a United States federal law that imposes a payroll tax on any business with employees, the funds are used to pay unemployment benefits.