In search of honesty; Reforming corporate governance.(Corporate-governance reform)
Economist (US), The, August, 2002
Will the new fashion for swearing oaths make company bosses tell the truth?
THE certification of company accounts by senior executives should be a non-event. After all, financial statements were always supposed to be true and complete, and lying has long been deemed fraudulent. But in the wake of Enron, WorldCom and a slew of other scandals, America no longer trusts its corporate leaders to tell the truth without being warned by the sound of prison doors slamming. Thus, new rules requiring chief executives and chief financial officers to sign off on their accounts have become the stuff of headlines.
All the headlines this week concerned August 14th, the SEC's deadline for the bosses of 695 listed American companies with annual revenue of more than...
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