You're only ever allowed to use your account with the person you validated with. You cannot share an account, e.g. between employees of the same company; if you want to transfer an account to another person over your vacation, you have to create a new account, re-validate, and recreate all certificates on the new account.

Obviously, we said f*k that and just registered everything on the CEO's name and have him do the phone verification.

Oh right, yeah. I'm pretty sure every company violates that particular rule :P

Every company that does this loses all their auditing capabilities on the systems that use these accounts. Not good.