As the unprecedented outbreak of Covid-19 continues to take its toll, the virus may also pose a special strain of threat capable of breaching directors’ duty of loyalty.
Increasing complexity of the rules and regulations, emerging risk and a lack of formal metrics for measuring the effectiveness of compliance programs are all contributing to rising director anxiety.
In order to perform their essential oversight duties, directors need to understand the problems their executives are focused on solving as they chart a course from crisis to recovery.
Directors on audit are facing unprecedented challenges, thanks to COVID-19. Here's what they can do to keep the ship righted.
It will be tempting to hide, delay, distort or leave out information during this crisis to avoid negative scrutiny of regulators and shareholders. Resist the urge and practice transparency.