the sarbanes-oxley act of 2002 is a governmental response to
Sarbanes–Oxley Act The bill, which contains eleven sections, was enacted as a reaction to a number of major corporate and accounting scandals, including Enron and WorldCom. The sections of the bill cover responsibilities of a public corporationâ€™s board of directors, adds criminal penalties for certain misconduct, and required the Securities and Exchange Commission to create regulations to define how public corporations are to comply with the law.
National Industrial Recovery Act of 1933 The National Industrial Recovery Act of 1933 (NIRA) was a US labor law and consumer law passed by the US Congress to authorize the President to regulate industry for fair wages and prices that would stimulate economic recovery.[1] It also established a national public works program known as the Public Works Administration (PWA, not to be confused with the WPA of 1935).[2] The National Recovery Administration (NRA) portion was widely hailed in 1933, but by 1934 business' opinion of the act had soured.[3] By March 1934 the "NRA was engaged chiefly in drawing up these industrial codes for all industries to adopt."[4] However, the NIRA was declared unconstitutional by the Supreme Court in 1935 and not replaced.[3][5][6]