Answered

Two of the provisions of the Sarbanes-Oxley Act of 2002 are to require CEOs to certify financial statements and to increase criminal penalties for fraud and false statements.

1) True
2) False



Answer :

GinnyAnswer

Final answer:

The Sarbanes-Oxley Act of 2002 requires CEOs to certify financial statements and increases criminal penalties for fraud, making the statement 'True.'


Explanation:

True. Two provisions of the Sarbanes-Oxley Act of 2002 are to require CEOs to certify financial statements and to increase criminal penalties for fraud and false statements. This act was a response to major accounting scandals like Enron, Tyco International, and WorldCom to increase confidence in financial information provided by public corporations.


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