October 7, 2005

Embattled President Warns Other College Leaders

By GRANT WILLIAMS

Even as the president of American University tried to save his job last week amid a growing controversy over his spending habits, Benjamin Ladner had a warning for other college leaders: This could happen to you. The investigation by the university's Board of Trustees, the suspended president said, is being driven partly by two federal laws that have changed the culture of accountability at nonprofit organizations.

Those laws are the Sarbanes-Oxley Act, which applies to publicly held

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