The Myth of CEO Accountability
This article first appeared in the March / April 2003 issue of Across the Board.
By Peter W. Lilienthal
What are beleaguered CEOs and board members to do? The SEC is obligating them to certify the financial reporting of their companies. Their advisers are offering con flicting advice about how they should respond. The lawyers suggest that it’s a risky idea to sign off. The PR and investor-relations gurus tell them they dare not do so. The government says they must or else.