Senior Management Ethics and Personal Accountability

Dimitris N. Chorafas

Chapter 1 in Management Risk, 2004, pp 3-23 from Palgrave Macmillan

Abstract: Abstract Larry Hite had been a successful trader. He had also worked as a bank examiner. It is said that one day, before leaving a credit institution following an audit, he turned to the bank’s president and, as a joke, said: “Got you!” The CEO had a heart attack on the spot. A more rigorous audit of the bank’s books found that its CEO had embezzled $75,000.1 An analyst who heard that story asked: “Only?”

Keywords: Corporate Governance; Hedge Fund; Corporate Responsibility; Financial Account Standard Board; Chief Financial Officer (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-4810-6_1

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DOI: 10.1057/9781403948106_1

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