Columbia Law School
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Sarbanes-Oxley
Shades of Gray in Board Independence
A well-functioning independent board of directors is a pillar of effective corporate governance. However, establishing and maintaining a truly functioning board remains a challenge for many companies. In response to apparent breakdowns in corporate oversight, policymakers have taken steps to …
SEC Enforcement Chief Ceresney Discusses Focus on Auditors and Auditing
Good morning and thank you for that very kind introduction. It’s a pleasure to speak with you all today. Before I start, I must give our standard disclaimer that the views I express today are my own and do not …
The Hidden Costs of Rotating Auditors
The avalanche of accounting scandals in the late 1990s and early 2000s triggered major changes in the corporate accounting world. The Sarbanes-Oxley Act of 2002 (SOX) stampeded in, promising tightened audit regulation aimed at easing the minds of frightened market …
General Counsel’s Growing Prominence May Prompt Privilege Problems
An emerging best practice of granting general counsel greater organizational prominence can create risks and benefits for corporate governance The general counsel’s ability to serve as a business partner of management helps establish the credibility essential to the successful performance …
M&A Buyers Pay a Premium for Their Weak Financial Controls
The Sarbanes-Oxley Act (SOX) was enacted by the U.S. Congress in 2002 in the aftermath of a series of corporate scandals. It aims to strengthen investor protection by promoting better corporate governance and auditor independence. In particular, Sections 302 and …