President Bush will unveil a plan to make corporate chief executives more accountable during a speech at the Malcolm Baldrige National Quality Awards. The president's plan is focused on providing better information to investors, making corporate officers accountable and developing a stronger audit system. CEO's would be required to return salaries and bonuses if fraud was later found on corporate financial statements. Some securities-law experts have criticized the proposal saying they are extreme and an overreaction to Enron.
See "Bush Plan Puts CEOs On Notice:
New Accountability For Accounting", Glenn Kessler, The Washington Post, March 6, 2002