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Sarbanes-Oxley News & Developments
CFO Whistle-blower Still in LimboSarbanes-Oxley 'is certainly not working in terms of reinstatement,' says the attorney for a onetime finance chief who refused to certify financial statements for his company.
> > The Department of Labor Administrative Review Board has affirmed an order from a judge that a bank must rehire a former CFO who was the first in the nation as a Sarbanes-Oxley whistle-blower, but it does not seem to have settled the matter.
In late 2002, David Welch was fired as chief financial officer of Floyd, Virginia-based Cardinal Bankshares Corp., a 65-employee holding company whose subsidiary is the Bank of Floyd, after he refused to certify the financial statements of his company.
Source: CFO
Published:2006-04-11
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