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Sarbanes-Oxley News & Developments
Top Finance Officers Must Be Squeaky CleanIt helps to have been an Eagle Scout.
> > In the wake of recent accounting scandals, executive recruiter Ted Martin explains the type of background that candidates need in order to qualify for CFO posts. Ted Martin is the founder and CEO of Martin Partners LLC, an executive-search firm in Chicago.
The new recruiting requirements are tied to what is going to happen at the board of director level and then trickle down.
CFOs need an operational understanding so they can not be snowballed by the numbers. A finance executive who comes from a non-siloed organization will be more in tune with opportunities today than one from a vertically structured organization who gets numbers dumped on him. CFOs will be responsible for fraud and deceit, so they have to be able to see it. Culpability is going to flow all over the place, and the CEO and CFO will be responsible for making sure the numbers are right. Saying - I do not know - will not be an excuse for a CFO. Everything will be back to the basics, including an emphasis on integrity.
Source: CFO
Published:2003-12-12
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