Directors reflections on the board s role had multiple dimensions. For some the question was whether and how exclusively the board should focus on compliance with applicable laws and regulations. In their view the board s primary role is to rules orient. Others view compliance as the job of lawyers and conceiv of the board s job much more broadly.
I m more comfortable on some
Boards than I am on others one director told us. Some people have really taken the value of governance the importance of governance to heart Armenia WhatsApp Number List and it pervades the company. Others have en slower to that realization and tend to view governance as something that the lawyers are driving. And therefore it is something that at the attitude level slows things down it s a cost to the enterprise. It gets in the way of ing efficient about decision makBng and moving forward. This director and a handful of others seem to struggling with a hangover from the effects of Sarbanes Oxley and other regulations which absord so much board time a few years ago.
To others the financial crisis
Itself meant that boards should intensify their efforts at compliance active by definition one director said. But what one has to ask is Should they more Mexico Phone Number List active when things are good to make sure that the risk management processes are in place that the financial control processes are in place so that they re assur that the organization has the controls and procures that will r light or highlight risks when they ne to highlight Other directors disagre lieving that the board should devote less time to compliance issues and more to substantive business matters.
