Sarbanes-Oxley Compliance. Dodd-Frank. Increased governing board liability and oversight. Are these familiar Issues? Does the seemingly ever-tightening knot of government oversight and possible litigation keep you awake at night? Do you remember when it was fun to go to work?
It's no secret that boards are open to more and more scrutiny. Section 404 of Sarbanes-Oxley set the standards 10 years ago, and boards are still trying to figure out how to comply with the governance issues contained therein. Never mind the financial discipline involved with the new laws. Board governance has increasingly become a big issue since the financial meltdown that hit worldwide markets in 2008.
Some of the more impactful results of Sarbanes-Oxley are the rules that significantly strengthened the role of independent audit processes. Adopting internal codes to regulate how directors are appointed, external audit systems, stakeholder protection systems, disclosure processes, and equitable treatment of shareholders are all necessary and relevant issues in a contemporary corporation. Adopting standards of governance and ensuring that those standards are adhered to is paramount if a company is to be successful in fending off litigation, shareholder revolts, and hostile takeovers. Add international operations to the mix, and you have a multifaceted issue that only the most experienced and seasoned consultancy is equipped to address.
Pegasus-Global's personnel are members of the National Association of Corporate Directors (NACD), hold certificates in Director Education, and have become Fellows of the NACD. We have managed internal board audits for the past 30 years, since the inception of the concept of governance best practices. Our senior staff and specialist consultants have worked with many of the world's major construction and engineering firms on megaprojects that range from the gas pipeline terminal on Sakhalin Island to the Kuala Lampur International Airport, as well a nuclear lifetime extension projects throughout the United States. Contact us to see what our governance consultation services can do for your organization.