Final answer:
The Sarbanes-Oxley Act of 2002 aimed to increase confidence in financial information and protect investors from accounting fraud.
Step-by-step explanation:
The Sarbanes-Oxley Act of 2002 had a significant impact on corporations. It was designed to increase confidence in the financial information provided by public corporations and protect investors from accounting fraud.
The act established stricter standards for financial reporting, enhanced corporate governance rules, and imposed penalties for non-compliance.
For example, it required CEOs and CFOs to personally certify the accuracy of financial statements and established the Public Company Accounting Oversight Board to oversee the auditing profession.