Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Accounting and Financial Planning for Law FirmsKickerFeaturesTopicsCommercial LawSectionsNewsLJN Newsletters

Who's on Your Board?

By Jeffrey Willoughby
April 30, 2008

Certainly most, if not all of the business community is aware of the corporate scandals of the past few years; Enron, WorldCom, and Tyco, just to name a few. These business failures not only affect employees and management, they affect the families of all employees, stockholders, and any person or company with which these companies conducted business.

As tragic as the loss of jobs, loss of retirement savings, and costs to prosecute are, there is something that could be worse: knowing that all of it could have been prevented. Each one of these companies had an audit committee that was ultimately responsible for overseeing the audit and issuance of financial statements. This is not to say each of these scandals was completely the fault of the audit committees or the boards of directors. However, some steps could have been taken to minimize these risks.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It Image

Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?

Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

The DOJ's Corporate Enforcement Policy: One Year Later Image

The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.

A Lawyer's System for Active Reading Image

Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.

Protecting Innovation in the Cyber World from Patent Trolls Image

With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.