And this is a bad thing?
Jim Copland is OK in my book because he's also a Casino Royale fan. But I have to take issue with his recent post at Point of Law:
"And with increased threats of criminal sanctions for corporate managers, directors, and auditors, the leaders of publicly traded companies in America have had to devote far more time to accounting and compliance issues than to growing their businesses."
Source: PointofLaw.com | PointOfLaw Columns
As opposed to allowing accountants to cook the books and ignoring the rules like Enron, for example. And SOX is purportedly a failure.
The point of Copland's post is that the legal and regulatory climate in the U.S. is driving IPO's overseas. Perhaps the executives of these companies will follow in the footsteps of people like Ken Lay and run their companies into the ground and devastate the economies of the countries that hosted their IPO's. Honestly, if an executive is so afraid of having so sign off on the authenticity of the company's financial statements.... what does that tell you about the executive's ethics?
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