Facebook Turns Toxic for Some ESG Funds – Bloomberg

Just how toxic is the data-privacy scandal for Facebook Inc.?So toxic that some investment funds now are lumping in the social network with big polluters and other corporations they consider ethically challenged.As Facebook has struggled to contain the damage from Cambridge Analytica’s use of personal data from 50 million users, some environmental, social and governance…

Time For Facebook CEO Mark Zuckerberg To Face Facts

Professor Jeffrey Sonnenfeld explains the failure of corporate governance at Facebook revealed by the Cambridge Analytica breach. We concur, and we call on the board to establish a committee to investigate further and report to Facebook users and investors about the steps they are taking to prevent further breaches. The leadership of Facebook is failing…

Spring Awakening: Notes from This Year’s CII Meeting

VEA Vice Chair Nell Minow reports on the Harvard Law School Corporate Governance and Financial Regulation Blog about CII’s spring meeting. The theme I heard most often at the annual spring meeting of the Council of Institutional Investors was ESG: environmental/social/governance risks and investment opportunities. The issues of how best to understand ESG and factor…

Cybersecurity Today Is Treated Like Accounting Before Enron – The New York Times

We believe every board should have a cybersecurity expert and a specific board committee with oversight. And we recommend that companies report on their process and criteria for cybersecurity each year, with particular emphasis on their ability to respond to attacks promptly and effectively. Companies may wish to allocate reserves for potential breaches as well….

Center for Audit Quality: the First Decade

The Center for Audit Quality celebrated its 10th anniversary with a conference that included assessment of its progress since it was created in response to the Enron-era series of accounting failures and some thoughts about upcoming developments. Unabashedly committed to the notion that accounting is “a force for good,” director Cindy Fornelli emphasized the profession’s…