Business Services Industry
Corporate Executives Prepare to Swear By Financial Statements.
Knight Ridder/Tribune Business News, August, 2002
By Tim Huber, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Aug. 3--D-Day is coming for 32 of Minnesota's biggest and best-known companies.
Beginning Aug. 14, top executives at the nation's corporate giants must swear -- in writing -- that their financial statements are true.
The Securities and Exchange Commission mandated the financial certification, which applies to all public companies with $1.2 billion or more in annual sales, about 950 in all. While most companies contacted by the Pioneer Press say their executives will sign, some are balking at the SEC demand.
Another hot-button issue is expensing stock options, something several national firms have agreed to do -- voluntarily -- as a way of...
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