PWC on Corporate Boards: Cyber Threats, #Metoo, Diversity, and What Shareholders Want

PWC on Corporate Boards: Cyber Threats, #Metoo, Diversity, and What Shareholders Want PWC’s annual director survey is one of our most trusted resources on corporate governance from the perspective of the boardroom, and this year’s edition has some significant findings on issues like diversity, CEO pay, climate change, cybersecurity, and the gap between what board members…

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…

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….

The Equifax Hack: More Questions Than Answers About the Board

So what happened? At a time when board composition and disclosure are presented as the board’s best safeguards to a range of corporate crises, what lessons can be gleaned from the Equifax debacle—despite the board’s perceived preparedness in these areas?  <P><P>In each annual proxy, boards disclose their governance practices—from director succession planning to risk management—which…

Equifax Lobbied To Kill Rule Protecting Victims Of Data Breaches

As Equifax acknowledges a massive security breach making the names, addresses, social security numbers and more available for fraud and disruption and it appears executives, including the CFO, sold stock before making this information public, it also comes out that Equifax lobbied to make it more difficult for consumers to get damages for exactly this…

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…