Final answer:
The Sarbanes-Oxley Act of 2002 required a "code of ethics for financial officers" to protect investors and improve confidence in public companies' financial reporting after significant accounting scandals. It is foundational to corporate governance and investor confidence.
Step-by-step explanation:
The Sarbanes-Oxley Act of 2002 required a "code of ethics for financial officers". This mandate came into effect following a series of major accounting scandals that shook the corporate world, involving companies like Enron, Tyco International, and WorldCom. The introduction of Sarbanes-Oxley aimed to enforce stricter standards to prevent accounting fraud and to increase confidence in the financial information provided by public corporations, thus protecting investors and the integrity of the financial markets.
When it comes to important sets of rules for any institution, the closest answer in the options provided, related to the Sarbanes-Oxley Act, would be a. its code of conduct since it is representative of the ethical principles and rules by which the business and its officers are meant to operate.