Accountability Breakdowns

Accountability Breakdowns

• The major accountability failures over the last several years were not isolated instances. Many were the result of significant structural weaknesses in institutional corporate governance and accountability models combined with a lack of personal ethics and integrity.

• These failures have shaken investor confidence in U.S. and global capital markets and in financial reporting and auditing matters. They have resulted in

  • loss of investor confidence
  • loss of tens of billions of dollars in investor capital
  • loss of livelihood/retirement for tens of thousands of employees
  • significant impact on national economies
  • significant impact on public trust in a variety of institutions and parties

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