Stack Attack: Restating Strategy Available to Purchase

Thanks to the Sarbanes‐Oxley Act, CEOs of U.S. companies that have annual revenues exceeding $1.2 billion must personally certify their firm's books, it seems like every third company has restated earnings. Household International earned $386 million less than previously reported; Qwest lost $1.1 billion; AOL Time Warner missed $49 million; Interpublic Group found $68.5 million in expenses that had not been properly accounted for. No longer can a CEO hide behind the auditors or plead ignorance.