New York--The Sarbanes-Oxley Act disclosure requirements won'tdetect accounting fraud, in the opinion of one of several insuranceexecutives who analyzed the costs and benefits of the legislationat an industry conference here.
They voiced their differing views during a panel discussion ofcorporate governance issues Monday, at the Standard & Poor'sInsurance Conference in New York.
Their perspectives included a mention of some benefits byStephen Lilienthal, chairman and chief executive of Chicago-basedCAN; Dennis Glass, president and CEO of life insurerJefferson-Pilot, downplaying the cost impact on his company; andBrian O'Hara, president and CEO of XL Capital Ltd, voicingcriticism.
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