Financial Accounting Blog

Tuesday, August 26, 2003

AccountingWeb reports that corporate directors are getting additional pay to compensate for additional responsibility (and risk of being sued).
"Experts estimate that the time commitment from corporate directors to fulfill their duties has increased about a third, up from 180 hours per year to about 240 hours a year. These extra time commitments stem from both additional Sarbanes-Oxley requirements as well as increased levels of decisionmaking and monitoring of their companies activities as a result of the increased expectations of the investing public."