Download: Effective Practices for Internal Investigations Led by the Board
A new article published by the National Association of Corporate Directors discusses the steps a company needs to take before deciding to embark upon a board-led investigation, and provides insight into essential actions the company should take to “weather the storm of an investigation,” like assigning committee responsibilities and having disinterested directors.
Based on best practices discussed at this spring’s AC Committee Chair Advisory Council meeting, this article outlines the key considerations for boards beginning an investigation:
- Early decisions have far-reaching impacts
- Keep the external auditor informed, while maintaining privilege
- Take a proactive approach to remediation
- Get ahead of reputational damage
- Discuss whether the circumstances warrant self-reporting
The company said this article helps directors develop an internal investigation protocol to follow should an issue arise, and equips directors with a framework to mitigate the effects of an investigation both internally and externally.
