Question

Item5 eBookItem 5 The Sarbanes-Oxley Act of 2002 has: Multiple Choice reduced the annual compliance costs of all publicly traded firms in the U.S. decreased senior management's involvement in the corporate annual report. greatly increased the number of U.S. firms that are going public for the first time. decreased the number of U.S. firms going public on foreign exchanges. essentially made officers of publicly traded firms personally responsible for the firm's financial statements.

Answer 1

E. essentially made officers of publicly traded firms personally responsible for the firm's financial statements.

Step-by-step explanation:

The Sarbanes Oxley Act 2002 was passed by US Congress in order to protect investors from fraudulent accounting policies by the corporation. The enactment of the Act promoted the need of compliance and strict disclosures of accounting policies. So, the correct answer is the Sarbanes Oxley Act 2002 made officers of publicly traded firms personally responsible for the firm's financial statements.