Compliance Week Columnist Richard M. Steinberg is CEO of Steinberg Governance Advisors Inc. The principal author of COSO's internal control and ERM frameworks,Steinberg is a well-known governance and auditing expert and the founder and former leader of PricewaterhouseCoopers' corporate governance practice. Steinberg has also authored numerous seminal governance reports, including "Corporate Governance" and "The Board—What Works Best."
Columnist Richard Steinberg looks at the sexual harassment suit against Fox News CEO Roger Ailes and its impact on corporate culture, asking, “What to do when the CEO is also chairman?” That’s why board independence is so important, says Steinberg.
Regular followers of CW columnist Richard Steinberg will recognize his ‘C’mon, man, moments’—those peculiar business world goofs that leave us all perplexed. From overboarding to outlandish expense reporting, enjoy this latest installment.
The notion persists that long-tenured directors are too familiar with the organization to provide useful, objective leadership. But as CW columnist Richard Steinberg points out, there is definitely something to be said for deep experience and expertise.
On the heels of Jim DeLoach’s “Six Principles for Improving Board Reporting,” Richard Steinberg offers four more principles regarding board risk oversight to ensure effective risk management, establish who is responsible for it, put board reporting in its proper context, and set channels of communication.
Last month, Rick Steinberg looked at myths around corporate governance, including accusations levied by some institutional investors and others. Here he looks at more such myths, with analysis and insight into which claims are on point—and which are not—along with how some accusers appear to be seeking to serve their own self-interests.
Various myths surround corporate governance, especially when it comes to the accusations levied by institutional investors and others on the governance scene. CW columnist Rick Steinberg examines three such myths in the first of a two-part series, as he addresses to what degree accusers are seeking to hold boards to higher levels of accountability, and to what degree these accusers are merely serving their own interests.
As risk management in general improves, we are seeing more CEOs embracing risk management as a concept and as a practice. But we also see misdirected focus and lack of attention to some of the greatest risks and opportunities facing their companies. Where companies are getting it right, they’re driving transformational change in the right direction.
We recently heard from Assistant Attorney General Leslie Caldwell about what she and her staff considers what is—or is not—an effective compliance program. Most notably, she noted that many companies have what appear to be good structures on paper but fail in practice to devote adequate resources and management attention—with others failing to consider obvious risks in important parts of the business. What can be done to address such views?