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Tougher oversight prompts turnover among CFOs

Tougher oversight prompts turnover among CFOs

by Rick Turoczy on October 14, 2006

The Sarbanes-Oxley Act, sweeping financial reforms enacted by Congress in 2002 in the wake of high-profile accounting scandals, have been a popular target for critics who bemoan the impact of costly, time-consuming government regulations.

The law also is being blamed for increased turnover among chief financial officers — the top accountants at public companies whose performance has come under increased scrutiny.

“We could tell in our work levels it was increasing post-Sarbanes-Oxley,” say Lorraine Hack, executive director of Russell Reynolds Associates’ financial officers practice.

Tougher oversight prompts turnover among CFOs

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