We operate in an age that increasingly demands financial and operational transparency and high standards of conformance to legal and moral requirements. Those who fail to maintain these standards pay with multibillion dollar legal judgments, the dissolution of venerable firms, dishonorable dismissals, and even jail sentences.
This trend was codified for publicly traded corporations by The Sarbanes-Oxley Act. Included among the many reforms is strong whistleblower protection language and severe penalties for violations. Both whistleblowers and the organizations whose wasteful or elicit practices they spotlight usually pay a high price. Is there a way for leaders to correct themselves short of blowing the whistle to regulatory bodies?