Last week, the Competition Commission in the UK issued a provisional decision requiring audit committees of large companies to tender bidding for the external audit every five years, among other reforms (see here). Make no mistake: this is a major …
Recent Posts
- The Corporate Governance Game Changer That Needs to Come To Canada
- A rebuttal to Terence Corcoran’s “OSFI and the bureaucratization of corporate governance”
- Richard Leblanc: Ten reasons that pay governance is broken
- Richard Leblanc: Ten Corporate Governance Trends for 2014
- Gender diversity on boards: My discussion notes
Linkroll
Blogroll
- Boards at Their Best
- Conference Board Governance Center Blog
- CorpGov.net
- Corporate Governance Blog
- Corporate Law and Governance
- Directorship Blog
- Governance Focus
- Harvard Law School Forum on Corporate Governance and Financial Regulation
- Ideoblog
- Independent Directors Executive Compensation Project
- Risk and Governance Blog
- Robert A. G. Monks
- Social Science Research Network Corporate Governance Blog
- The Board Blog
- The Corporate Library Blog
- TheRacetotheBottom.org
- Truth on the Market
- Weinberg Centre For Governance Blog
Audit Committee
Does your Audit Committee Need a Reset?
I was recently asked to speak to audit committee members in Niagara-on-the-Lake on best practices for audit committees. See my slides here. I was particularly critical of how audit committees and boards oversee risk. Risk systems in many companies are …
Regulators turning up anti-bribery heat on corporate boards: But will practices change?
Russia is one of the most corrupt nations in the world (see a recent anti-corruption story on Russia by the New York Times). It ranks 143rd of all 182 countries on Transparency International’s corruption perception index, with a score of …
Bribery, Cyber-Security and Derivatives: Is Internal Audit up to the Task?
Do internal auditors have the resources, skills and authority necessary to do their job? I wonder. I was asked recently to be an expert witness in an alleged bribery case. Internal audit is one of the first places I look …
Derivatives May be Ungovernable
The recent loss of 2Billion dollars by JPMorgan confirms what is now a blindingly obvious governance reality. Board of directors do not understand derivatives and cannot control management’s use of them. The same may be said for regulators. One job …
Does Canada have a White Collar Crime Problem? A Red Flag Checklist for Directors
“This city, this province, this country has a reputation of being the best location to carry out white collar crime, corporate fraud, in the industrialized world.” These public words are not from some scholarly journal but from a hard-hitting, no-nonsense …
Alleged Fraud at York University
A few questions: 1. When Navigant was retained in 2009, was this firm retained by, and accountable to, a Special Committee of only independent Governors of York U, or by Management? Best practice, generally, would be that an independent committee …
Audit Committee and Risk Management Oversight Questions for Boards
Many of the questions below are based on hypothetical and disguised but plausible scenarios that I researched, or upon which I directly advised. Let’s say a worker is responsible for maintenance of a machine, but because of time pressures, cuts …