The CPA In Industry: Financial Officers’ Code Of Ethics: Help Or Hindrance?
- Topics:
- Sarbanes Oxley Compliance
- Tags:
- Certified Public Accountant,
- Code Of Ethics,
- Financial Officer,
- Human Resources,
- Industry,
- Policies And Procedures
- Source:
- The CPA Journal
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Overview: The Sarbanes-Oxley Act of 2002 mandates new and improved governance infrastructure and controls to improve the accuracy and reliability of corporate financial reporting. The Act focuses on public accounting oversight, auditor independence, corporate responsibility, and analysts’ conflicts of interest. The SEC is to improve its monitoring and stiffen its penalties. The section titled “code of ethics for senior financial officers” is somewhat ambivalent, and therefore should be explored by those potentially affected by it. It is a brief section and on the surface seems tame, but it may prove to be problematic to implement. With only 180 days to produce the final rules to implement this section, it is possible that the resulting product may not be a control mechanism to ensure ethical performance. The paper also deals with fundamental issue which concerns the development of an appropriate code of ethics for each company.
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Format: HTML | Date: Mar 2003 | Pages: 1
