Java is the new COBOL
So your CFO and auditor can read it?
I don't think you understand the point of COBOL, which is "while it is very long-winded and a struggle to write, it is possible for lay people to read, and (at least the evidence suggests) maintain 50 year old code after the original author has died".
If you write COBOL, you probably spend two days reading the background info and requirements docs for every ten minutes you spend writing code anyway.
Good luck getting an accountant to understand 50 year old Java.
That's true, in theory. I've also seen COBOL code that's nearly as unreadable as the worst Perl crap I've seen, and I'm pretty sure the reason the original author died is suicide after the boss wanted him to make changes to the damn thing.