[time-nuts] Article: Regulations focusing on backdating have prompted corporations to pursue technical solutions centered around time synchronization to eradicate the practice

[Chuck Harris]

Dr Bruce Griffiths wrote:
> Jared Morrisen wrote:
>> Interesting piece...
>>
>> *Weak Enforcement of Corporate Governance and Lax Technical Controls Have
>> Enabled the Illegal Backdating of Stock Options*
>>
>> *Conclusion*
>> The backdating fiasco demonstrates that the need for synchronized time is a
>> crucial business and technology requirement. As such, it is an integral part
>> of an effective network and security architecture. Ensuring accurate time is
>> relatively inexpensive and offers a significant ROI. And it is a great way
>> to stop your company from getting negative press — not to mention to keep
>> your management team from being indicted.
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>>   
> Jared
> 
> And just how does this prevent someone altering the files's timestamp?

It doesn't, it just means that congress is in session.

My own experience with back dating involved a colleague that was leaving
a vice-presidentship.  She had all sorts of stocks that she had acquired
as a result of her tenure.   When she left, they tried to backdate the
stocks to a time when performance was really bad.  It took some serious
lawyer threats to get them to back down.

-Chuck