Two lawsuits -- one coming to a close in Australia, the other just beginning in Cincinnati, Ohio -- remind us that public company Directors and Officers (D&Os) are facing greater scrutiny and liability than ever before. They also reinforce how the presence or absence of a company's internal controls -- over financial reporting as well as compensation decisions -- can be used to protect or vilify D&Os in court.
Internal Controls and the Changing Role of Directors and Officers
Posted by
Nancy Johnsonon July 18, 2011
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A recent case of internal fraud at Citgroup begs the question: Should we be criticizing Citi for not having the internal controls in place to prevent the fraud in the first place -- or applauding Citi for noticing the error and taking action on it?
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Tags: Internal Controls, fraud
SEC Final Rules Give More Reasons to Review Your Internal Controls
Posted by
Nancy Johnsonon July 1, 2011
A little over a month ago, the SEC adopted its Final Rules regarding the Dodd-Frank whistleblower program.
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Tags: Internal Controls, whistleblower policies, Entity Level Controls
