Why Was the Sarbanes-Oxley Act (SOX)enacted

Multiple Choice

Why was the Sarbanes-Oxley Act (SOX) enacted?

A) To bring GAAP closer to global financial reporting standards.
B) The lack of significant corporate frauds during the late 1990s and early 2000s warranted less monitoring for external stakeholders.
C) To improve the financial reporting and restore investor confidence.
D) Accounting rules had become so complex that investors could no longer understand them.