Friday, May 27, 2005

After SOX, Some CFOs Are Saying, 'I Never Signed Up For This'

In the last few years the role of the chief financial officer has been changing so fast that turnover is high, burnout is common and executives who succeed are quickly learning to be agents of change.
With the advent of the Sarbanes-Oxley corporate reform legislation in 2002, CFOs are facing an avalanche of new regulations, strict deadlines, and tough scrutiny from investors and Wall Street analysts.

SOX requires CFOs and chief executive officers to formally certify that their company earnings are accurate, among other rules, and the pressure to comply is forcing some CFOs out the door, according to a survey reported earlier this month in The Wall Street Journal.

See full Article.