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Equally, they must know that we all make mistakes, so a rigorous system of internal scrutiny and audit ought to have been in place to weed out the errors.
This process typically starts with an audit of the IT and physical security system which, like a financial audit, ought to be carried out by an outside team without a stake in the existing IT infrastructure.
The request for an audit ought to be granted.
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Q. Are boards doing their jobs? A. On boards, audit committees ought to stay more involved so they know what's going on in a company.
She now feels that voluntary audits will work, but has stressed that the progress of the private sector in carrying out such audits really ought to be monitored "with a view to considering the need for legislation on laggards at a future date".
Ought to!
It ought to!
Or ought to!
Heck, if they really wanted to put the rest of the ecosystem on notice, they ought to audit every application funded by Sequoia, Partech, DCM, and Softbank, all lead investors in RockYou.
Or: Slice the income-tax returns so that you can pluck out the 1% that ought to be audited.
iVillage, an Internet company, is on its sixth since 1997; Unisys has had four since 1995.Against impatient investors and a trigger-happy boss, the best defence of the CFO ought to be the audit committee, the group of (supposedly) independent directors who monitor the company's figures.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com