Further to our recent reports: “Board Duty of Oversight Considerations,” “Board Oversight Structure: Emerging & Evolving Risks,” and “Audit Committees: Risk Oversight,” Wachtell Lipton’s “Board Structure Is Key to Oversight” discusses important considerations relevant to how the board may structure its risk and compliance oversight responsibilities and provides associated process and practice guidance (e.g., formal documentation of responsibilities in committee charters and/or corporate governance guidelines). Importantly, reviewing the board oversight structure is not a “one and done” exercise, but rather should be considered on at least an annual basis as risks emerge and evolve.
Access additional resources on our Risk Management & Oversight, Compliance & Ethics, and Director Duties & Liabilities pages.
This post first appeared in the weekly Society Alert!