Achieving a corporate culture focused on ethics and compliance doesn't happen by accident. It takes a concerted effort from the Board of Directors, CEO and CCO, who all must understand the importance of a strong E&C program and be committed to championing the notions. Michael Volkov offers five key ways companies can strengthen corporate governance.
From 1934, the year marking the passing of the Securities Exchange Act, and 1977, no major corporate reforms were passed. In the past 30 years, however, the situation changed dramatically. Huge corporate scandals, including Enron, WorldCom, Bear Stearns and Siemens have led to sweeping reforms. Is this the trend now? And should it be?
In an effort to win over a majority of Allergan shareholders, both the parties angling for a takeover and the the company itself are mounting aggressive campaigns to make their cases. Due to some shady goings-on around the recent stock buy-up, Allergen is facing some considerable communications challenges, not the least of which is a sullied reputation among ...
In the aftermath of a serious violation, efforts to overhaul a company's culture of ethics and compliance may seem too little, too late. And can it even be done, anyway? With the right players at the helm it can. With the Board and the CEO jointly and sincerely championing change, the organization stands a far greater ...
There's no question that Board members' jobs are tougher now than ever before. All the more reason to increase accountability; failures in governance often lead right back to the Board, and shareholders bear the brunt of the consequences. The flashier issues, such as CEO hirings, tend to draw their attention, but compliance needs its time in the ...
It all started peacefully enough. At 7 am, I parked my car in the underground parking garage of our Connecticut offices and hopped on the elevator.
The principal corporate governance campaigns of the past decade have reached a plateau in terms of both investor commitment and implementation. These issues are not by any means going away.
In the coming years, the pressure on corporate Boards will reach new levels. Enforcement agencies are scouring investigations and sources of information to bring civil and criminal cases against Board members.
Governance, risk management and compliance (GRC) efforts are often spread across an organization. Each department takes a different approach with its own systems, technologies and tools to engage in risk management activities.
In business, corporate governance is often equated with proxy voting, shareholder rights, and board directors’ oversight duties. But its fundamental purpose is to ensure that an organization is effectively directed and controlled, which is a significant undertaking (to put it mildly).