[time-nuts] Article: Regulations focusing on backdating have prompted corporations to pursue technical solutions centered around time synchronization to eradicate the practice
cfharris at erols.com
Wed Feb 21 19:33:34 EST 2007
Dr Bruce Griffiths wrote:
> Jared Morrisen wrote:
>> Interesting piece...
>> *Weak Enforcement of Corporate Governance and Lax Technical Controls Have
>> Enabled the Illegal Backdating of Stock Options*
>> The backdating fiasco demonstrates that the need for synchronized time is a
>> crucial business and technology requirement. As such, it is an integral part
>> of an effective network and security architecture. Ensuring accurate time is
>> relatively inexpensive and offers a significant ROI. And it is a great way
>> to stop your company from getting negative press — not to mention to keep
>> your management team from being indicted.
>> time-nuts mailing list
>> time-nuts at febo.com
> And just how does this prevent someone altering the files's timestamp?
It doesn't, it just means that congress is in session.
My own experience with back dating involved a colleague that was leaving
a vice-presidentship. She had all sorts of stocks that she had acquired
as a result of her tenure. When she left, they tried to backdate the
stocks to a time when performance was really bad. It took some serious
lawyer threats to get them to back down.
More information about the time-nuts