Which of the following is a purpose of the Sarbanes-Oxley Act?

The Sarbanes-Oxley Act, often abbreviated as SOX, was enacted in response to major corporate and accounting scandals, such as those involving Enron and WorldCom. The primary purpose of this legislation is to ensure transparency in financial reporting. It mandates strict reforms to improve financial disclosures from corporations, enhance the accuracy of financial reporting, and hold management accountable for the accuracy and completeness of financial statements. This transparency is critical for restoring trust in the financial markets and protecting investors.

The other options do not align with the core objectives of the Sarbanes-Oxley Act. For instance, the Act does not aim to simplify the tax code, increase employee salaries, or reduce government regulations. Instead, it introduces more rigorous compliance requirements, thereby actually increasing certain regulatory obligations for publicly traded companies. This reflects the Act's fundamental focus on increasing accountability and integrity in financial practices rather than easing regulatory burdens or affecting taxation and employee remuneration directly.