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Corporate Governance - What You Need to Know

 

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Accounting

Governance

Analytics

Technology

 

 

 

 

News of Noteworthy Events and Trends

 

 

 

 

Shareholder Rights Around the World

The CFA Institute's Centre for Financial Market Integrity has released a report on the status of shareowner rights by country. You can obtain a free copy of "Shareowner Rights across the Markets: A Manual for Investors" from the CFA's website.

 

Lessons Learned from the Financial Crisis of 2009

 

Both boards of directors and shareholders will be affected by the regulatory and policy changes now being considered in response to lessons learned from the financial crisis of 2009. The Center has prepared an overview and analysis of the various reforms being discussed and considered.

Links

 

Special Report - Lessons Learned from Financial Crisis

 

 
 

 

Tools for Audit Committees

 

January 15, 2010. The SEC approved PCAOB Auditing Standard No 7, "Engagement Quality Review."

 

October 29, 2009. Internal Revenue Service (IRS) Commissioner Douglas Shulman make a speech about the role boards of directors should play in overseeing business tax risks and tax strategies.

 

April 21, 2009. The PCAOB issued a Practice Alert on Fair Value Measurements and Impairments.

 

January 1, 2009. The AICPA released a plain-English Guide to Independence. Though aimed directly at auditors, audit committees might find it helpful, too.

 

 

AS 7

Shulman's speech

PCAOB's alert on Fair Value

AICPA's guide

 

   
   

 

More Tools to Help Restore Investor Confidence

 

March 24, 2009. The National Association of Corporate Directors (NACD) launched "America's Challenge for Corporate Directors: Renew Commitment to Corporate Governance and Oversight Excellence," a nationwide campaign challenging every corporate board and individual director to restore public and investor confidence in publicly traded companies by strengthening corporate governance and oversight of America's corporations.  

 

February 10, 2009. The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) released a document entitled Evaluating and Improving Governance in Organizations.

 

NACD's press release

 

 

 

IFAC's Paper on Governance 

 

   
   

  

Other Resources

 

OECD Corporate Governance Principles

 

The Paris-based Organization for Economic Cooperation and Development (OECD) issued a set of corporate governance guidelines in 1999 and revised them in 2004 in the wake of the Enron meltdown and other financial scandals. The OECD is also addressing the implications for corporate governance of the financial crisis of 2008 and 2009.

 

 

OECD Principles

2004 Principles