San Diego (July 18, 2002) -- The majority of chief executives say their colleagues are to blame for the current accounting scandals, and they expect the problem to get worse, according to a survey of chief executives.

More than two-thirds of chief executives hold corporate CEOs directly responsible for recent accounting scandals, as opposed to CFOs, the Securities Exchange Commission, or accounting firms, according to a survey of nearly 800 chief executives by TEC International. While 82 percent think the recent wave of scandals is the work of a few highly visible CEOs and doesn't represent the behavior of the vast majority of CEOs, 75 percent of CEOs expect to see many more examples of corporate misconduct this year.

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