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Article review and summary - Essay Example

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Author : ibalistreri

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Finance and Accounting Article Table of Contents Table of Contents 2 Introduction 3 Summary of Article 3 Research Method 6 Primary Hypothesis 7 Support of Research towards Hypothesis 7 Contribution of Article 7 Further Research 8 Recommendation 8 Conclusion 8 Reference 9 Introduction Reactions of legislative towards the recent corporate scandals highlight the responsibility of managers for the accurateness of financial reporting…

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Article review and summary

Conceptual model have been proposed to evaluate the performance of the CFO for making compensation decisions. Earlier it considers the quantitative financial performance measures and the managerial duties of the CFO but now it also considers fiduciary duties of the CFO in the post Sarbanes-Oxley Act (SOX) era towards the judgment of CFOs compensation. Conceptual model also takes into account two interactive factors and that are governance oversight and costs of firm of financial statement misreporting. Hypothesis tests, control variables, correlation matrix, robustness test and a look back analysis have been conducted to show the relationship between ICMW and the CFO compensation. Thus this paper focuses on the various threads of literature in judging the CFO compensation. Summary of Article Under the SOX Act of 2002, the CFOs and the CEOs i.e. the chief executive officer are required to maintain, establish and assess the effectiveness of internal control and also required to report o this assessment in both annual and quarterly financial statements. In the post SOX period CFOs have been more responsible for their actions as they play primary role in the oversight of internal control fulfillment. ...
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