Information quality, risk conversations, board culture, and compensation risks were front-and-center. The “new normal” demands a new mindset. Leading boards and audit committees are helping their companies navigate the economic crisis and understand the changes (perhaps transformational) that may be necessary to stay competitive. But effective oversight requires that directors have quality information about the business, where it’s headed, and the risks it faces, as well as the ability and willingness to challenge management. That may mean shaking things up in the boardroom.
Previously published in ACI Insights – July 2009