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Corporate Controls and Why Legislation and Internal Contols are Not Enough  Universidad Sergie Arboleda September 2008 Ethan S. Burger, Esq. Adjunct Professor , Georgetown University Law Center Scholar-in-Residence, School of Intern’l Service, American University 06/06/09
Points on a Continuum of Unethical Conduct ,[object Object],[object Object],[object Object],[object Object],[object Object],06/06/09
Sarbanes-Oxley Act: A Case Study in Crisis Management? ,[object Object],[object Object],[object Object],06/06/09
Analytical Assumptions ,[object Object],[object Object],06/06/09
The Sarbanes-Oxley Act of 2002 at http://news.findlaw.com/hdocs/docs/gwbush/ sarbanesoxley072302.pdf ,[object Object],[object Object],[object Object],[object Object],06/06/09
“ [C]orporations, their officers and directors, as well as the professionals they retain have developed the ‘ethic of technical compliance’.”   William H. Widen Associate Professor of Law at University of Miami “It is not an adequate ethical standard to aspire to get through the day without being indicted.” Richard Breeden Former SEC Chairman   “ The crime is not what is illegal, the crime is what is legal.” Michael Kinsley (then-Editor of the  New Republic) .   06/06/09
SOX’s Macro-Structure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],06/06/09
SOX’s Practical Impact ,[object Object],[object Object],[object Object],06/06/09
Costs of Complying with SOX Section 404 – Management Assessment of Internal Controls: A Major  Concern [Why not Section 302 - Corporate Responsibility for Financial Reports?] ,[object Object],[object Object],[object Object],[object Object],06/06/09
Governance and Competition ,[object Object],[object Object],[object Object],[object Object],06/06/09
U.S. Extra-territoriality and its Potential Consequences ,[object Object],[object Object],[object Object],06/06/09
Is Declaratory Policy Consistent with Operational Policy ? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],06/06/09
Effective Corporate Governance Ultimately Depends On The Ethics of Corporate Personnel ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],06/06/09
Unethical Behavior By Individuals: the Belief that . . . . ,[object Object],[object Object],[object Object],06/06/09
Questions to Ponder ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],06/06/09
Some Possible Improvements to Corporate Governance to Examine ,[object Object],[object Object],[object Object],[object Object],[object Object],06/06/09

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2008 Corp Gov & Humility

  • 1. Corporate Controls and Why Legislation and Internal Contols are Not Enough Universidad Sergie Arboleda September 2008 Ethan S. Burger, Esq. Adjunct Professor , Georgetown University Law Center Scholar-in-Residence, School of Intern’l Service, American University 06/06/09
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  • 6. “ [C]orporations, their officers and directors, as well as the professionals they retain have developed the ‘ethic of technical compliance’.” William H. Widen Associate Professor of Law at University of Miami “It is not an adequate ethical standard to aspire to get through the day without being indicted.” Richard Breeden Former SEC Chairman “ The crime is not what is illegal, the crime is what is legal.” Michael Kinsley (then-Editor of the New Republic) . 06/06/09
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