What is a primary goal of the Sarbanes-Oxley Act?

The Sarbanes-Oxley Act, enacted in 2002 in response to major corporate scandals, primarily aims to improve the accuracy of financial reporting. This legislation was designed to restore public confidence in the financial markets by establishing stricter regulations on financial disclosures and corporate governance practices. It introduces measures such as the requirement for top management to personally certify the accuracy of financial statements, which encourages accountability and responsible reporting.

By putting these safeguards in place, the Act aims to prevent fraudulent activities and enhance the reliability of financial information provided to investors and the public. This focus on accuracy ensures that stakeholders have truthful and consistent data upon which they can base their financial decisions, ultimately fostering trust in the financial system. The other options either do not align with the goals of the Act or misrepresent its intentions.