Which of the following occurred as a direct result of a specific high-

QUESTION

Which of the following occurred as a direct result of a specific high-profile accounting scandal?

A) the beginning of forensic accounting
B) the beginning of independent audits
C) the enactment of the Sarbanes-Oxley Act of 2002
D) the creation of the Government Accountability Office
E) the rise of not-for-profit accounting

ANSWER

Answer: C
Explanation: C) The collapse of Arthur Andersen in the wake of the Enron financial scandal led to the enactment of the Sarbanes-Oxley Act of 2002.