Every Board of Directors need a true compliance expert sitting at the table. Almost every Board has a former CFO, former head of Internal Audit or persons with a similar background and often times these are also the Audit Committee members of the Board. Such a background brings a level of sophistication, training and SME that can help all companies with their financial reporting and other finance-based issues. So why is there not such compliance SME at the Board See more +
Every Board of Directors need a true compliance expert sitting at the table. Almost every Board has a former CFO, former head of Internal Audit or persons with a similar background and often times these are also the Audit Committee members of the Board. Such a background brings a level of sophistication, training and SME that can help all companies with their financial reporting and other finance-based issues. So why is there not such compliance SME at the Board level?
Three key takeaways:
1. Boards must have compliance expertise.
2. Government regulators and shareholder groups have both called for greater compliance expertise at the Board.
3. Compliance expertise at the Board works up and down as such expertise can be a resource to both the CCO and Compliance Department. See less -
