Financial Accounting Blog

Sunday, October 05, 2003

This article from titled "Whistle-Blower Woes" notes that there is a growing feeling that the provisions of Sarbanes-Oxley (Congress Act of 2002) will spark nuisance lawsuits by disgruntled employees. The truth of the matter is far more complex. CFOs are now in the hot seat!.

Comment. While there is a potential for sparking nuisance lawsuits by disgruntled employees, this act of congress will put the burden on CFOs to clean up house and pay more attention to integrity and ethics when it comes to preparing company financial statements for its external decision makers.