The actions taken by Toshiba in the wake of the fallout of an accounting scandal that saw them overstate earnings by more than $1.2 billion over seven years escalated last week when they announced the resignation of Chief Executive and board Vice Chairman Hisao Tanaka and a reorganization of its board in which half the members are stepping down. “Not only must heads roll, and practices change, but it is time to turn corporate culture on its ear,” says Davia Temin. — The Wall Street Journal’s Risk and Compliance Journal […read more]
