Board Matters Quarterly
Issue 2, 2018
Welcome to Board Matters Quarterly, dedicated to providing thought-provoking perspectives and insights into leadership and governance issues for boards and audit committees, supporting you to navigate the increasingly complex business environment.
The rapid pace of change in the regulatory environment means that boards must look beyond the obvious to deliver deeper insights for better boardroom decisions. What does oversight look like when you are looking at the entire globe? Find out in this issue.
Compliance with personal data protection acts (PDPA) may not necessarily equate to General Data Protection Regulation (GDPR) readiness. Boards need to review existing data protection compliance programs to decide on the investment needed to enhance the compliance process.
In family businesses where directors have multiple overlapping roles in the family and business, an advisory board or a formal board of directors can instill governance and structure in the business, so that the best interest of the company and its constituents is seen to.
A company’s culture is arguably the single most important intangible asset that boards must keep a close watch on. It can be an effective tool in effecting change, and can impact the reliability of financial statements, effectiveness of internal controls, risk profile and risk management efforts.
The US tax reform is the most comprehensive overhaul of the US tax system in more than 30 years. Boards should ensure that their company is up to date with the changes and have policies in place to capitalize on the opportunities and avoid potential challenges.
Companies considering ICOs must bear in mind the possibility of stricter regulatory landscapes as ICOs gain traction. The ICO model has to align with the overall business model and strategy, and should not be simply a means to easy funding.