Financial Accounting Blog

Sunday, November 28, 2004

Where Have All the Chief Financial Officers Gone? The New York Times has this article about CFOs who changed jobs to get away from the pressure of being a CFO.
"Every C.F.O. has been pushed at times to take something that is clearly black and white and color it a shade of gray," Mr. Goldman, 46, said. "But when the chief executive is shot at, he uses the chief financial officer as a human shield. Being a C.F.O. has become one of the riskiest jobs in America."

The push for better ethics and transparent accounting in corporate America, including the drive to pass the Sarbanes-Oxley law in 2002, has had an unexpected side effect: more finance chiefs are calling it quits.