... a requirement that senior executives swear to the accuracy of their financial statements
Our law states that the President is penally responsible for all frauds committed under the banner of the company. As far as the accounting statements are concerned, they are first formally approved with a vote by the board, then signed by the President. Their is no way for the President to escape this responsibility which cannot be delegated.
Of course, that responsibility is penal, not economic; the loss resulting from poor management, or whatever legal unprofitable decision, cannot be charged to the President.
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