Cleaning up the mess made by its former chairman after engaging in financial misconduct, Japanese automaker Nissan’s board of directors met in May resolving to strengthen its corporate governance by transitioning from a company with statutory auditors to a company with three statutory committees: nomination, compensation, and audit.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...