socialmedian: Job at Risk - 88% of Senior Financial Executives Believe Positions of CEO and Chairman of the Board Should Be Separate @ RiskCenter: A Financial Risk Management Media Company

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Job at Risk - 88% of Senior Financial Executives Believe Positions of CEO and Chairman of the Board Should Be Separate @ RiskCenter: A Financial Risk Management Media Company

Submitted by Lucaswyrsch

Nov 06, 2009

Summary

In a national survey of U.S. CFOs and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, the vast majority (88%) believe that the positions of CEO and chairman of the board should be separate and more than half (52%) report that they would like to be CEO of a company one day.

Regarding CEO pay (including total pay and benefits package), the majority (63%) believe that the average CEO is overpaid; however, nearly the same amount (59%) believe that their own CEO is appropriately paid.

Eighty-four percent of CFOs do not believe that it is the auditor’s responsibility to detect any and all fraud and nearly three-quarters (72%) believe it is reasonably possible for a CFO to intentionally and materially misstate a company’s financial statements without being detected in a timely manner by internal or external auditors.

Do you believe it is reasonably possible for a CFO to intentionally and materially misstate a company’s financial statements without being detected in a timely manner by internal or external auditors?
Yes 72%
No 28% Read the full article

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