Some Surprises, Few Shocks at Certification Deadline

Updated from 6:05 p.m. EDT

While a handful of corporate executives wouldn't attest to the accuracy of their firm's financial results, the vast majority had sworn under oath by late Wednesday that their numbers were correct.

The Securities and Exchange Commission hasn't published all the data on its Web site yet but of the 700 companies required to certify their financial statements by Aug. 14, roughly 660 had done so as of 6 p.m. EDT. The SEC has yet to review and clear all the certifications, and another 250 companies have yet to file because they do not work on a calendar fiscal year.

"Hopefully, this will restore confidence as people realize that not every corporate officer in America is a crook, and that creating false financials is an aberration," said Morton Pierce, chairman of the M&A law group at Dewey Ballantine.

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