860 public company directors responded to PwC’s 2012 Annual Corporate Directors Survey. Of those directors, 70% serve on the boards of companies with more than $1 billion in annual revenue.
Our study shows that 91% of directors find new board members through director recommendations, suggesting that directors are more comfortable with individuals recommended by someone they know and trust.
A surprising number of boards (37%) have no clear allocation of specific responsibilities for overseeing major risks among the board and its committees.
In our study, strategic planning topped the board’s “wish list,” with over 75% of directors wanting to devote more time to it during the next year.
While directors see the opportunities in emerging technologies like social media, many are uncomfortable with the challenge of effectively overseeing IT strategy and risk.
A company's board of directors faces risks everywhere. Fraud, natural disaster, cyber threats, corporate scandals, supply chain breakdowns - the list goes on. Directors try their best to prevent fraud and other such risks, but how they respond to a crisis can make or break their company's reputation. Here's what we discovered in our survey.
With allegations of fraud at high-profile companies as the US government emphasizes enforcement of the Foreign Corrupt Practices Act (FCPA) in recent years, the introduction of the UK Bribery Act, and new SEC whistleblower rules, directors are increasingly concerned about fraud:
An effective crisis management plan is essential to a company’s overall approach to risk management and business continuity: