GRC Insight is highlighting news, trends, and thought leadership in governance, risk, and compliance. We complement it with original opinion, research, and reviews. Save time, and stay on top of your profession.
What’s a board to do? The overboarding debate is reengaged by a perceived need for experience in the boardroom to deal with the risks of Covid-19 and its governance challenges. It is crisis experience and shared insight versus fresh thinking and commitment. Have we now overdone “underboarding?”
A timely list of twelve key corporate governance issues for board members during our Covid-19 crisis. The pandemic calls for the usual director oversight plus extra vigilance for new threats and opportunities. Directors need to be well-briefed to permit quick comprehension and fast decision making.
A smart, connected thermometer may be providing early warning of Covid-19 fever clusters two weeks in advance of the CDC reporting system. With years of modeling data and potentially millions of real time data points, the thermometer network may be able to flag zip codes that would be a priority for corona virus testing.
Volkswagen AG stated that the 2015 diesel emissions cheating scandal has cost it 31.3 billion euros – 34.69 billion dollars – in fines and settlements. This is compliance enforcement with teeth. Reputation hit, squandered trust, and lost sales are additional.
Have our risk and continuity plans accounted for home network bottlenecks? Our day-job needs and expectations are colliding with our family-scale data networks. We are all home and online together: learning, streaming, gaming, trading, accessing, conferencing. In Europe, some networks and applications have seen traffic increases of 80% and 90%. Seattle has seen total internet traffic increase 30% over January. It is a great experiment. Fingers crossed.
The growing use of sanctions as a policy tool has created a demand for compliance professionals that is outstripping supply. The result is an extremely tight job market and rapid growth of third-party services provided by accounting firms, law firms, and specialized compliance consulting firms. Unemployment for compliance professionals currently stands at 0.2%.
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