mandate many reforms in order to require greater corporate responsibility, disclosure, transparency, and to combat against accounting fraud. In response to several corporate and accounting scandals happening at that time, such as Enron, WorldCom, and Peregrine Systems, which cost investors billions of dollars when stock prices plummeted and the affected companies went out of business, the Sarbanes-Oxley Act was signed into law, (Kimmel, 2011, p.8). The Act was passed in order to incorporate government…
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