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The Sarbanes-Oxley Act: Definition and Explanation

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the law that protects investors from fraudulent accounting activity?

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1. What year was the Sarbanes-Oxley Act enacted?

2. Which of the following is NOT a purpose of the Sarbanes-Oxley Act?

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About This Quiz & Worksheet

The following quiz and worksheet combination will test your knowledge of the Sarbanes-Oxley Act. During the quiz, you will be tested on the year that the law was created and the purpose of it.

Quiz & Worksheet Goals

During the assessments, you will be tested on:

  • What year the Sarbanes-Oxley Act was enacted
  • Reports by auditors to validate the reliability of company financial statements
  • Examples of why the act was needed

Skills Practiced

  • Information recall - access the knowledge you've gained regarding the year that the Sarbanes-Oxley Act was enacted
  • Knowledge application - use your knowledge to answer questions about why it was necessary
  • Interpreting information - verify that you can read information regarding auditors and interpret it correctly

Additional Learning

To learn more about the act, look at the following lesson, The Sarbanes-Oxley Act: Definition and Explanation. This lesson covers the following objectives:

  • Details publicly traded companies
  • Defines auditor
  • Covers internal controls
  • Explores corporate powerhouses in the 1990s
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