Answer:
Explanation:
Between years 2000 to 2002, there were huge scandals in the corporate sectors of the United States and that led to the enactment of Sarbanes-Oxley Act (SOX) in 2002. This was done so that the confidence of the investors could be restored.
The act stipulates tougher penalties for securities fraud and prohibited accounting firms from engaging in auditing and consulting services for the same organizations and companies they are also auditing.
