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: 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.
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