CFOs, controllers and other finance and internal audit executives have benefited from spearheading Sarbanes-Oxley Act initiatives. Their reputations inside and outside the organizations have largely improved. Some finance professionals in charge of compliance initiatives have received generous bonuses. But there are long-term career costs associated with spending too much time and effort on compliance.

Compliance and financial reporting are essential responsibilities for finance executives, but those activities alone will not elevate them to the next level. This article examines the organizational and personal costs of compliance and shows finance executives how to prevent compliance activities from short-changing their career prospects.