The role of the CFO in Corporate Accounting Ethics
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The role of the CFO in Corporate Accounting Ethics
Strayer University
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A review of the role of the Chief Financial Officer ( CFO ) in corporate accounting ethics, can be done in the context of the motivations that led to the institution of the Sarbanes-Oxley (SOX) Act and the impact it has had over corporate ethics in accounting: improving accountability and reducing fraud.
Recent history has shown that corporate accounting fraud and reckless management may happen when incentives/pressures, opportunities and attitudes / rationalization are in place. To name a few emblematic cases: Enron, WorldCom, and HealthSouth; led US congress to enact the Sarbanes-Oxley Act in 2002, aiming to address issues such as: accountability of managers and auditors, and the oversight for both through...