Understanding Risk Management And Compliance – January 2012
Understanding Risk Management And Compliance – January 2012
by George Lekatis
The January 2012 edition of the International Association of Risk and Compliance Professionals (IARCP) newsletter (https://www.risk-compliance-association.com)
On December 2, 2011, we had the 10-year anniversary of Enron filing for Chapter 11 bankruptcy.
This bankruptcy, which was at the time the largest in corporate history, led to the creation of new laws and regulations, including the Sarbanes Oxley Act.
The Sarbanes-Oxley act was enacted on July 30, 2002, less than a year after Enron filed for Chapter 11.
Today Sarbanes Oxley is as important as it has been all these years. Amended by the Dodd Frank Act, the Sarbanes Oxley rules continue to apply and change the lives of hundreds of thousands of professionals around the world.
Today we will remember what has been said about the role of professionals and the board of directors during one of the most interesting investigations. We will also see that, although we had so many laws and regulations, many of the problems we had in Enron, continue to haunt boards, corporate officers and shareholders.
Enron’s board of directors was criticized for being asleep at the wheel after the firm collapsed. Today we will read the interesting opinion of one of these directors, a very good and very experienced one.
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Understanding Risk Management And Compliance – January 2012 – 90 pages, 2.75 MB (PDF)
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