Take the following as truth: Participants noted that with increased globalization of businesses' operations and the need for harmonization of accounting and auditing standards, as well as the need for preemptive measures, there may be more federal involvement such as the Sarbanes-Oxley Act of 2002.
Then the following statement: "The Sarbanes-Oxley Act was adopted in 1996." is true, false, or inconclusive?
Answer: False