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CFOs: what Your Board Is Worried About
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Posted by Cfo World News
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lundi, 31 mai 2010 |
 Ever wonder what your board members are talking about when you're not in the room? While strategies for dealing with the recession and recovery have topped most board agendas recently, a new study of more than 100 board members conducted by the accounting and business advisory firm Eisner LLP identified other key areas of concern. "As the economy is starting to turn, we wanted to find out what boards are thinking about besides financial risk," says Steven Kreit, a partner at Eisner and co-author of the study. Respondents, half of whom identified themselves as audit committee members, called regulatory compliance the most important area of risk management, with nearly two-thirds of board members saying they are most worried about keeping up with new regulations like those from the Securities and Exchange Commission and the Financial Accounting Standards Board (see table below). Kreit cites the new proxy rules issued by the SEC as a hot topic — perhaps in part because the rules require public companies to disclose more information about board members' qualifications.
Not surprisingly, given the wave of corporate reputational disasters in the news lately, reputational risk ranked as directors' next concern, with 54% of respondents calling it a key risk. "Boards are concerned about their companies' reputations, but also their own reputations," says Kreit
(...) CFO.com
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