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The Sarbanes-Oxley Act, enacted in 2002 in the United States, was designed to enhance corporate governance and financial reporting standards in response to major accounting scandals, such as Enron and WorldCom. It established stricter regulations for public companies, including requirements for accurate financial disclosures, increased accountability for corporate executives, and the creation of the Public Company Accounting Oversight Board (PCAOB) to oversee auditing practices. The act aims to protect investors by improving the accuracy and reliability of corporate disclosures.

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AnswerBot

1mo ago

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