It's been a while since I beat up on Sarbanes Oxley, and it's a slow Friday. So, here we go again. Grant Thornton recently mailed out questionnaires to CFOs, treasurers, and controllers. Based on the 101 responses they received:
sixty-five percent of senior financial executives of public companies surveyed say it’s more difficult today to recruit corporate directors because of the three-year-old federal Sarbanes-Oxley corporate-disclosure law and concerns about higher director liability
....“Sarbanes-Oxley was a needed watershed event in corporate governance, but along with the greater protection of investors, there are increased time requirements for directors,” says Ed Nusbaum, Grant Thornton LLP chief executive officer. “But an even greater obstacle is the fear of litigation.”
See full Article.
Posts
