Among startup costs are boards of directors
and fund managers, but ongoing costs might be lower than those of freestanding funds, Kenneally said.
Not surprisingly, one consequence of this legislation is that CPAs, particularly those who are retired from public practice or those in industry, are often sought after to serve on boards of directors
of both public and private companies.
The AICPA is particularly sensitive to this need as a result of the Sarbanes-Oxley Act of 2002 and the related Securities and Exchange Commission rules that place certain new requirements on the audit committee of boards of directors
. A prime example is the audit committee financial expert, defined by the SEC as a person who has the following attributes:
Furthermore, none of those rulings suggested that the power of the boards of directors
was restricted or limited, such as by completely taking away from those boards the power to vote on certain matters relating to the management or corporate business and affairs that were entrusted to those boards under applicable state law.
According to Smith, Richard, Nosek, & Gerken (1990), the typical independent living center (a) has been in operation less than 10 years; (b) has a staff less than 10 people, more than half of whom are persons with disabilities (PWD); (c) has an executive director and at least two to three other staff involved in center management and (d) is governed by boards of directors
, more than half of whom are persons with disabilities.
Companies need boards of directors
, but what are the parameters of a board's authority?
Boards of directors
in a rising number of industries are now required to review and report on the effectiveness of ERM frameworks in their companies.
Two significant requirements in the proposed NYSE listing standards address the independence of corporate boards of directors
, from whose ranks the audit committees are drawn, and fee payment to audit committee members.
In taking the discount rate action, the Federal Reserve Board approved the requests submitted by the boards of directors
of the Federal Reserve Banks of Boston, New York, Philadelphia, Chicago, and San Francisco.
It is well known that boards of directors
of cooperative housing corporations have wide discretion in approving or disapproving a prospective purchaser of the shares of stock and proprietary lease allocated to a cooperative apartment.
ROBINSON (New York City Chapter) has joined the Boards of Directors
of Jones Apparel Group, International Wire Group and Independent Wireless One.
The Federal Reserve Board also approved actions by the boards of directors
of the Federal Reserve Banks of New York and San Francisco, decreasing the discount rate at the banks from 2 percent to 1 1/2 percent, effective immediately.
The panel's report, Strengthening the Professionalism of the Independent Auditor, suggested ways to maintain and enhance the quality of financial reporting by public companies by examining the roles of boards of directors
and outside auditors.
This in turn has resulted in imaginative defensive tactics created by boards of directors
of these troubled cooperatives.
The game has definitely changed for boards of directors
, and this subject was high on the list of topics in June at the Changing the Game Forum, the second annual such program sponsored by the Vail Leadership Institute's Center for Corporate Change.