Download a White Paper Governance: With an increase in activism among shareholders and increased scrutiny from the regulatory bodies, corporate boards and executive teams are more focused on governance related issues than ever before.
The governance process within n organization includes elements such as definition and communication of corporate control, key policies, enterprise risk management, regulatory and compliance management and oversight (e.g., compliance with ethics and options compliance as well as overall oversight of regulatory issues) and evaluating business performance through balanced scorecards, risk scorecards and operational dashboards.
One of the things that you're taught even before you set foot in law school is that the law is not about logic. One of the joys of the experience of participating in the profession, because I've now touched four decades, is that it's a wonderful thing to study the law, but the trajectory of the law is always evolving and it's basically driven by facts.
It's driven by facts, it's driven by policy, and it's driven by leadership.
These risks are no longer considered the sole responsibility of specialists - executives and the boards demand visibility into exposure and status so they can effectively manage the organization’s long-term strategies.
Why the Board recommends holding future say-on-pay votes EVERY YEAR.
You'll find each of these colleagues on the panel to have a piercing intellect, a remarkable ability to articulate, and a wealth of experience in stewarding executive teams in what has become much more of a spotlight position in the executive suite. You've been at this a long time and things have changed. When the Enron house of cards first fell and there was all sorts of discussion about who was to blame, why did it happen, where were the lawyers, I had a conversation with Joe Grundfest at Stanford.
Who are we, what do we stand for, who do we stand for, and what's our trajectory as you see it? Joe told me something that I think captures the moment that led to Sarbanes-Oxley.
Growing regulatory environment, higher business complexity and increased focus on accountability have led enterprises to pursue a broad range of governance, risk and compliance initiatives across the organization.He said, "Craig, I can explain to you in two words why Enron happened." And I said, "Okay, Joe, I'll bite. " "Winona Ryder." And so I was curious as to why it might be Winona Ryder.If you'll recall, Winona Ryder got in a little trouble at Saks Fifth Avenue for shoplifting. Well, first of all, she figured she wouldn't get caught.I will let Chairman Olson speak to the steps the PCAOB is taking to address these issues from the auditing regulator's perspective, but I'd like to assure the Committee, and the public, that the Commission is working in close cooperation with the PCAOB in this important area. But here is a typical example of what some companies did: They granted an "in-the-money" option-that is, an option with an exercise price lower than that day's market price.They did this by misrepresenting the date of the option grant, to make it appear that the grant was made on an earlier date when the market value was lower.