Backdated opitions should now be disclosed

As I have commented in these pages on a couple of occasions, the issue of backdated options and which companies engaged in this practice should come out voluntarily and not as a result of any outside investigations.

Auditors in doing their work should have that one question on their list and should add a note to the accounts either saying that this activity did not go on in the company or, if it did, provide full details about the extent and the impact.

There is no excuse for auditors ignoring these issue and signing off on accounts without this necessary disclosure.

Relying on outside investigations or studies from university professors is not acceptable!

Onésimo Alvarez-Moro