How revamping the whistleblower system could make American companies more ethical and prevent fraud and misconduct
not being held accountable, that still bothers me. I went into this to get that fixed, and that didn’t get fixed.”
Studies have demonstrated an uncomfortable truth about whistleblowing: In the instances when employees do overcome all obstacles and speak out, it does not necessarily lead to real change.of the whistleblower provisions in the Sarbanes-Oxley Act, the 2002 law adopted to prevent corporate and accounting scandals in the wake of what happened at Enron and WorldCom, concluded that whistleblowers did not help uncover the vast corporate fraud that resulted in the 2008 financial crisis.
To truly fix corporate misconduct, we must look beyond the rare successes of the lucky few whistleblowers that get huge payouts. True success lies in real remediation, in real change, not just in the company the complaint addresses but also in its competitors who may engage in similar misconduct. Employees have a crucial role to play, as they have the best view of what happens inside corporate America. But they can only do so if they are truly empowered within their organizations to call out misbehavior when they see it, even when it concerns powerful executives, key sources of income, and deviant behavior that has come to be accepted internally. This requires more than paper legal protection against retaliation, or the off chance to win a big reward.
Truly empowering employees requires deeper corporate reforms. One option would be to introduce corporate
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