On the Shoulders of Giants

Directors as Pillars of Rectitude and Compliance in the Corporation

Published in: Corporate Finance Review, Vol. 15, no. 3, Nov./Dec. 2010, p. 17-24

Posted on RAND.org on December 31, 2009

by Michael D. Greenberg

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Directors face newly heightened expectations to recognize and fulfill their responsibilities to oversee the company's management of compliance, ethics, and reputation risks. They must perform compliance and ethics (C&E) oversight, and take on the necessary data-gathering responsibility to understand their firms deeply. Directors should not be operating unassisted when it comes to carrying out their responsibility. Appointing a strong, independent Chief Ethics and Compliance Officer (CECO) to act on their behalf is an essential starting point.

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