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…

Cybersecurity and Investors — Join Nell Minow for a Webinar Today

There’s no doubt that cyber attacks cause real financial harm to businesses. Money can be stolen, business operations disrupted. Cyber theft can provide international competitors with years worth of valuable intellectual property or trade secrets virtually overnight, jeopardizing current and future market opportunities. Cyber attacks can seriously damage an organization’s reputation with customers and result…

Cybersecurity Experts Flooding Boardrooms – Network Security on Top Tech News

In recent months, AIG, Blackberry, CMS Energy, General Motors and Wells Fargo have added a board member with computer-security knowledge. Delta Air Lines and Ecolab did the same in recent years. The reasons are clear. Cyberattacks on large companies skyrocketed 44% last year from 2013. Cybercrime costs businesses more than $400 billion a year, according…