Take the following as truth: In addition, participants stated that some states have been independently trying to address accountancy reform and, in some cases, have proposed reforms that have gone further than the Sarbanes-Oxley Act of 2002 because they feared that the federal government would not act.
Then the following statement: "Sarbanes-Oxley was passed in April of 2002." is true, false, or inconclusive?
Answer: False