Oversight Systems Survey:
Financial Executives Support SEC’s
New Ruling on the Reporting of Executive
Compensation
ATLANTA (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, Inc.
Oversight takes continuous monitoring to the next level by combining an audit data warehouse, advanced analytics and workflow into a single, integrated, application. By inspecting each step of individual transactions across systems, Oversight identifies errors, control violations and fraud to drive higher levels of performance and compliance. Oversight's platform automates the entire life cycle finding problems in business processes, fixing those problems and proving the problems were resolved. Oversight is the solution of choice for those CFO's, CIO's and CISO's serious about compliance and enhancing their financial performance. For more information, visit www.oversightsystems.com.
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