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General Accounting Discussions: Question about accounting ethics

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    • CommentAuthoryhma0818
    • CommentTimeOct 7th 2007
     
    For fear of being held individuall liable for corporate reporting irregularities has prompted some CFOs and CEOs to transfer 100 percent ownership of their personal assets to spouses and other family members. By so doing, their personal assets are protected in the event of a SOX-related lawsuit.
    I 'd like to ask whether this practice is ethical?
    thanks~!

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