Final answer:
The statement about the Sarbanes-Oxley Act being passed in 2002 for the regulation of auditors is true; it was designed to protect investors and restore trust in financial reporting after major accounting scandals.
Step-by-step explanation:
The statement that the act passed in 2002 that provides for the regulation of auditors and the types of services they furnish to clients and is known as the Sarbanes-Oxley Act is true.
The Sarbanes-Oxley Act was indeed enacted as a reaction to a series of major accounting scandals that shook the financial world, including those involving Enron, Tyco International, and WorldCom.
The main purpose of this legislation was to improve the accuracy and reliability of corporate disclosures in the reporting of financial information, thereby protecting investors from the risks of accounting fraud and corporate malfeasance.
The act passed in 2002 that provides for the regulation of auditors and the types of services they furnish to clients is known as the Sarbanes-Oxley Act.
This act was passed in response to major accounting scandals involving corporations such as Enron, Tyco International, and WorldCom.
Its purpose is to increase confidence in financial information provided by public corporations and protect investors from accounting fraud.