For many executives, the topic of internal control conjures up images of details deep in the corporate infrastructure best left to staff with green eyeshades and pocket protectors (if such gear actually still exists). Unfortunately, misunderstandings persist regarding what internal control is all about and its relevance to achieving critical business objectives.
We focus here first on how misunderstandings at the board of directors' level can cause oversight to be woefully lacking, and then take a look at what can and does happen to companies when controls fail to protect.
What We Have Is a Failure to Communicate
As a Compliance Week ...