Governance models must be able to respond to evolving challenges such as new regulation, emerging technology strategies, risk management, and succession planning. The pace of change is accelerating just as stakeholder demands are becoming more diverse across new markets. Boards are paying more attention to enhancing communications, increasing oversight of crisis management planning, and focusing on fraud and IT risk.
Ultimately, getting the governance models right for the future depends on building the right leadership pipeline today. CEOs find recruiting and retaining high-potential middle managers is a particularly difficult challenge. On a more positive note, management teams are — slowly but surely — becoming more diverse. Forty percent of US CEOs rely on local regional management teams and almost a quarter say these regional leaders are also part of their organization’s global management teams.
What does the corporate board of the future look like? Diversity, shareholder relations, communication with management, effective IT governance, fair executive compensation, and agile risk response are cited in PwC's Annual Corporate Directors Survey.
After much deliberation, the FASB and IASB are set to release a final global revenue recognition standard in the coming months that will do away with current industry-specific accounting and instead apply a single set of principles to all revenue transactions. Changes to practices, processes and systems could ripple through your business. 10Minutes on revenue recognition provides information about the standard as well as insight into ways in which some companies are preparing for the broader impact.
Data protection and privacy is an urgent issue for both consumers and businesses. As customers increasingly worry whether their personal information is secure and used appropriately, companies are also concerned about protecting data and their brand. This 10Minutes highlights the importance of viewing consumer privacy from more than just a compliance lens and developing a strategy and action plan that will help businesses lead on data privacy by building customer trust and enhancing their brand.
The public portion of Category 3 US resolution plans reveal strikingly similar strategies.
The FDIC's proposal contains little new information, but shines light on the outstanding key issues even if only by its silence.
A bail-in debt proposal is expected from US regulators in the coming months.
Regulators released the public sections of the 11 Category 1 firms' annual resolution plans.
Whistleblower reform is having significant impact. The SEC’s Office of the Whistleblower has one full year of operation under its belt, and with it 3,001 tips and two awards to date. Leading companies are looking closely at the Office’s first-year report and drawing lessons for building stronger ethics and compliance programs. They’re also considering what it takes to create a highly ethical culture. This 10Minutes highlights the importance of having an ethical culture at the workplace.
This 10Minutes outlines key points from PwC’s 2012 Annual Corporate Directors Survey that illustrate how boards are working to improve their oversight.
This edition of To the point: Current issues for boards of directors, reviews guidance from the SEC and DOJ about the Foreign Corrupt Practices Act and policy updates from the ISS on executive compensation, board response to proposals with majority shareholder support, hedging of company stock, and what directors should know about data security and cyberattacks.
Can compromises be reached before the end of this year to avoid the 'fiscal cliff' effect of scheduled tax increases and spending reductions
The IRS recently released guidance addressing some of the very technical issues facing employers as they implement the Affordable Care Act (ACA).
Download PwC's 2012 Annual Corporate Directors Survey
An increasing number of directors are spending more of their board hours discussing information technology (IT) risks and opportunities, specifically associated with social media and mobile computing. Technology and media experience are desirable qualities among qualified board members, as boards grapple with the risks associated with IT.
This annual publication focuses on the critical governance issues directors and senior executives face, offering information, insights, and practical guidance to help directors meet the demands of their role and enrich boardroom discussions.
The 2011 edition of Current developments for directors includes a section on factors that are influencing companies' growth plans. Also discussed are how global trends are affecting companies' operations and international expansion opportunities and covers key developments in regulatory reform, financial reporting, and tax reform.
The key issues that stand out in 2010 for directors include business challenges given the state of the economy, the impact of global tax trends, financial reporting and regulatory developments, major ongoing legislative issues, and a special focus on government involvement in business.
Audit committees, management, and auditors work together to meet the information needs of the capital markets and to ensure quality audits and financial reporting. The leading practices in this 10Minutes may help audit committees continue to improve their oversight of auditors and management, thereby enhancing the quality of audits and financial reporting.
By helping create jobs in the private sector and by investing in infrastructure, governments can help create an environment conducive for growth. In fact, almost half of CEOs surveyed say that improving the country’s infrastructure and fostering a skilled workforce should be government’s top priorities. But how can CEOs enter strategic and collaborative relationships with governments to pursue their own growth agendas?