Boardroom Excellence: A Commonsense Perspective on Corporate Governance (2004) by Paul Brountas

666 Words Feb 22nd, 2018 3 Pages
Furthermore he asserts that “the symbiotic relationship” between self-serving executives and inept irresponsible corporate boards fed the growing corruption (Ch. 1, Contributing Factors). After that, he explains how Congress adopted the Sarbanes-Oxley Act of 2002, the New York Stock Exchange (NYSE) and Nasdaq adopted comprehensive new corporate governance rules regarding disclosure, and the Securities and Exchange Commission (SEC) adopted a requirement obligating chief executive officers (CEOs) and chief financial officers (CFOs) to certify that their financial statements and reports were accurate and not misleading, with possible criminal charges if their numbers turned out to be bogus (Brountas, 2004, Ch. 1, Legislative & Regulatory Corrective Action). He acknowledges that there are critics to the new laws, rules and penalties, but stands firm on his position that the laws have helped to restrain and will eventually eliminate the recent corporate corruption that financially crushed trusting investors (Ch. 1, The Sarbanes-Oxley Road Map). In Chapter Two, Brountas (2004) gets into the legal teeth provided by…

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