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Clawback of Executive Compensation: Ethical Issues

Accounting Profession / /

Accountability for Restated Financial Statements On October 26, 2022, the SEC issued a final rule aimed at ensuring that executive officers do not receive “excess compensation” if the financial results on which previous awards of compensation were based are subsequently restated because of material noncompliance with financial reporting requirements. Such restatements would include those correcting […]

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General Motors CEO Makes 362 Times the Median Employee

Accounting Profession, Business Ethics, Workplace Behavior / /

Executive Pay Packages Are Out of Whack General Motors CEO Mary Barra, the highest-paid chief executive among the Big Three, made nearly $29 million in 2022. Securities and Exchange Commission filings show that this is 362 times the median GM employee’s paycheck. Publicly traded companies are required to disclose the ratio of their CEO’s pay

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