Final answer:
The Sarbanes-Oxley (SOX) Act aims to encourage honesty and the reporting of dishonest acts by implementing various provisions and requirements for public corporations.
Step-by-step explanation:
The Sarbanes-Oxley (SOX) Act aims to encourage honesty and the reporting of dishonest acts by implementing various provisions and requirements for public corporations. One of the key provisions is the creation of an independent audit committee, which oversees the financial reporting process and ensures the integrity of the company's financial statements. The act also requires companies to establish internal controls and procedures to detect and prevent fraud. By promoting transparency and accountability, the Sarbanes-Oxley Act aims to build trust among investors and enhance the reliability of financial information.