Increased Focus on Audit Committees
It is difficult enough to serve on a corporate board. It is not a job for the weak stomached. Corporate boards have faced unprecedented risks. Aside from general board duties, regulators are increasing scrutiny of board committees, especially audit committees. In the early 2000s, audit committees were under the microscope after a series of corporate fraud scandals resulted in Sarbanes-Oxley reforms, focusing on internal controls,...