Oversight Systems Survey: Financial Executives Support SEC's New Ruling on the Reporting of Executive Compensation
According to the survey of 230 financial executives, 58 percent say public companies must explicitly report the dollar value of all non-cash and non-stock compensation and benefits greater than $10,000, and 56 percent say public companies must explicitly report the dollar value of stock grants and potential future stock grants.
Atlanta, GA (PRWEB) July 28, 2006 -- A majority of financial executives endorse the Securities and Exchange Commission's new requirements for the full disclosure of executive compensation, according to a survey from Oversight Systems.
According to the survey of 230 financial executives, 58 percent say public companies must explicitly report the dollar value of all non-cash and non-stock compensation and benefits greater than $10,000, and 56 percent say public companies must explicitly report the dollar value of stock grants and potential future stock grants.
The complete Oversight Systems Financial Executive Report on Risk Management is available for download at www.oversightsystems.com/survey.
"This SEC ruling is the equivalent of Sarbanes-Oxley for executive compensation and stock option grants," said Patrick Taylor, CEO of Oversight Systems. "With the recent headlines about options backdating scandals, financial executives clearly are in favor of full disclosure of executive compensation. The new requirements for reporting stock-option grant information will drive companies to closely monitor and scrutinize their controls over options-based compensation."
About Oversight Systems
Oversight Systems takes continuous controls monitoring to the next level by combining controls testing with a real-time transaction inspection to identify the problems in a business process. Oversight’s platform automates the entire life cycle of finding problems in business processes, fixing those problems and proving the problems were resolved. By inspecting each step of individual transactions across systems, Oversight identifies all errors and control violations, drives defect-free processes and sustains Sarbanes-Oxley compliance. For more information, visit www.oversightsystems.com.
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