Following the corporate scandals at Enron and WorldCom, to name just two, the SEC forced all CEOs and CFOs of listed companies to sign oaths of accounting honesty – a measure which was later incorporated in the controversial Sarbanes-Oxley Act.
Yesterday, speaking at a conference organised by the Council of Institutional Investors in New York, Pitt said he would ask SEC’s director of corporation finance, Alan Beller to consider a proposal to eliminate the ‘ordinary business exemption’ which gives company boards the power to dump shareholder suggestions.
Pitt was reported in the FT as saying: ‘I strongly endorse the rights of shareholders to express their views.’
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements