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The article
of legislation basically governs corporate America outlining public company
accounting oversight board, auditor independence, corporate responsibility,
enhanced financial disclosures, analyst conflicts of interest, corporate
and criminal fraud accountability, corporate tax returns, and white collar
crime penalty enhancements, to name a few.
The University of Texas in Dallas School of Management wanted area executives
to take a look at coporate governance and explore what impact Sarbanes-Oxley
currently has and will have in the corporate world.
School of Management Dean Hasan Pirkul said in a press release recently
that today’s corporate directors and senior officers “are
under closer scrutiny than ever by regulators, investors and the general
public, all demanding a higher level of competence in matters of corporate
operations, finance and administration. At the same time, these constituents
are also demanding heightened standards of ethical behavior.”
David A. Donohoe, Jr., chief counsel of the NASDAQ Stock Exchange, served
as the keynote speaker for “Compliance and Beyond: Restoring Public
Trust by Building an Effective Organization.” He discussed reforms
and the consequences of not complying with those reforms.
“Will we restore investor confidence?” Donohoe asked and then
answered by saying the public needs to see some prosecutions.
“You need integrity,” he said. “You need people with
integrity.”
Other speakers at the Institute for Excellence in Corporate Governance
seminar included former U.S. Secretary of Labor Lynn Martin and retired
Deloitte CEO and Chairman J. Michael Cook.
According to a UTD press release, IECG Director Dr. Constantine Konstans,
who is also a UTD professor of accounting and information management,
said the institute’s seminars are designed to help participants
find solutions to specific issues related to the new rules for the corporate
governance system.
IECG’s next seminar, “Financial Statement Analysis,”
is scheduled for May 6. For more information call 972-883-2204 or http://some.utdallas.edu/iceg.
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