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The wise men and women of the board are having a hard time of late—at least if one goes by the headlines in the case of OpenAI's influence on Silicon Valley and in the BharatPe saga playing out in India. It's easy and tempting to brush these off as unconnected and one-off incidents that have no larger bearing or longer-term consequences. And for those who think the rise of activist investors and third-party proxy advisory firms are the primary and sole causes of such publicly played out and often murky boardroom battles, my suggestion would be to think again—hard. The boardroom battle between Nelson Peltz and the Disney board is partly due to an activist shareholder. Beyond that, the larger question that lingers for some is why the board at such a large company is having trouble with its succession plan.

Steps For Renewing Trust In Corporate Boards (forbes.com)

Central banks participating in the Risk Management Benchmarks 2024 are most likely to employ two frameworks. The most commonly used guideline among participants is the International Organization for Standardization’s ISO 31000. This is followed by the Committee of Sponsoring Organizations of the Treadway Commission enterprise risk management framework (COSO-ERM). ISO 31000 is the most widely used standard by central banks regardless of their country’s income level.

ISO 31000 and COSO–ERM remain central banks’ leading standards - Central Banking

Enacted by Congress in 2002, the Sarbanes-Oxley Act (SOX) was put into place to protect investors from fraudulent company accounting and reports, which saw investors lose billions of dollars in companies like Worldcom and Enron in the early 2000s. For publicly traded companies, complying with the new SOX regulations meant the development of new rules for reports, accounting, and financial record keeping that impacted almost all of their systems. In 2006, four years after SOX was passed, the Manufacturers Alliance estimated from a survey of 40 large companies that it was costing the average large enterprise $1.6 million for external audit fees for Section 404 SOX compliance, plus about $1.9 million for internal compliance work. Sixteen years later, in 2022, Protiviti’s survey of companies found that the number of companies spending more than $2 million during the 2021 fiscal year on internal SOX compliance efforts was still increasing,

Should We be Grateful for SOX and Other Regulations? (informationweek.com)

In today's rapidly evolving business landscape, amid prevalent corruption and public distrust, maintaining strong, transparent corporate governance is vital. Firms adopting best corporate governance practices not only meet stakeholder expectations but also ensure enduring sustainability and success. This article delves into some current trends shaping corporate governance in South Africa.

#BizTrends2024: Trends shaping the corporate governance landscape (bizcommunity.com)

The global AI market is projected to grow by more than 30% per year through 2030, while as many as 80% of business are either using AI or actively exploring whether to deploy it. In the absence of strong regulation governing responsible use of the technology, chief technology officer Lou Bachenheimer explores how companies can self-regulate — for now.

How to embrace responsible innovation when it comes to artificial intelligence (AI) is top of mind for both public and private organizations. As the government grapples with guidelines for ethical AI development and industry heavyweights agree on the need for guardrails on new tools, the time to begin building a framework for governing AI in your company is now.  

Navigating the AI Frontier: Strategies for Effective Governance | Corporate Compliance Insights

After years of anticipation, President Biden signed the Foreign Extortion Prevention Act (FEPA) into law on December 22, 2023, ushering in a new era of international anti-corruption prosecution. The FEPA will make it easier for the U.S. Department of Justice (DOJ) to prosecute foreign officials who demand or accept bribes from U.S. companies. As the long-awaited corollary to the Foreign Corrupt Practices Act (FCPA), the FEPA is one of the most important expansions of anti-corruption laws in decades. In this client alert, we analyze and discuss how compliance and risk management for companies (and state-owned entities (SOEs) in particular) are impacted by the FEPA and its key differences from the FCPA.

DOJ Targets Foreign Officials with Long-Awaited Anti-Corruption Law: 5 Takeaways for Multinational Corporations and State-Affiliated Entities | Wilson Sonsini (wsgr.com)

Does a fired whistleblower need to show their employer acted with retaliatory intent to prove retaliation under the Sarbanes-Oxley Act (SOX)? The Supreme Court has been asked to review the standard of proof in such cases – and the outcome could resolve a disagreement among federal appeals courts and set a consistent standard once and for all. The ruling will impact how publicly traded companies defend against SOX retaliation claims and may also affect whistleblower protections under other laws that are similarly structured. How will SCOTUS decide? During oral argument, the Justices seemed ready to rule in a way that will see more whistleblower claims make it to jury trials, and employers should be prepared to adjust to this new reality. Read on for an analysis of the issues and our specific predictions on how the Justices will decide the case.

SCOTUS Predictions: Ruling in Whistleblower Retaliation Case Will Impact Employers’ Defense Strategy | Fisher Phillips

In the dynamic world of business, regulatory changes are constant, and business owners must stay ahead of the curve to thrive. The Corporate Transparency Act (CTA) is a transformative piece of legislation, designed to enhance corporate transparency. It impacts millions of businesses nationwide. Whether you are at the start of the limited liability company (LLC) formation process or hold a significant share of an active entity, we will help you determine if the CTA applies to your business. We at the MarketWatch Guides team have created a comprehensive guide that details the intricacies of the Corporate Transparency Act, how to ensure compliance for your business and where to find additional resources.

Everything to Know About the Corporate Transparency Act: Complete Guide (marketwatch.com)

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