March 31, 2003

True or false? If a CEO wants to lie

True or false? If a CEO wants to lie about the performance of his company, trusting investors have no real way of divining the real story.
One might be quick to answer true, given the recent disclosures by the SEC in charging companies such as HealthSouth and its founder, Richard Scrushy, with massive accounting fraud, and the company’s own admission that its “financial statements should not be relied upon.” …more