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Sarbanes-Oxley News & Developments
Latest Survey Shows That Little Ethics Training for BoardsThe Conference Board Ethics Conference in NY participated in the survey.
> > A large number of corporate ethics officers say their board members have never received training in ethics or compliance issues. Over 80 percent of those surveyed said their companies have conducted ethics and compliance training for employees yet only 27 pecent held training for their directors.
Companies also indicated that compensation for senior executives is out of control. Sixty two percent acknowledged executives who leave because of major violations involving ethics and compliance codes leave with a financial package. Thirty eight percent of those surveyed indicated wrong-doers leave without a package.
Even though most executives concede that corporate ethics training can play a role in preventing major scandals, few believe that it can stop malfeasance altogether. Most executives polled conceded that fear of retaliation is a big issue within their companies.
Source: CFO article
Published:2003-06-23
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