Baker Tilly and the National Association of Corporate Directors (NACD), the authority on boardroom practices representing more than 20,000 board members, released the 2021 Governance Outlook: Projections on Emerging Board Matters, featuring Baker Tilly’s 2021 Strategic Risks for Boards. The outlook is designed to give corporate directors and senior executives a comprehensive overview of major business and governance issues likely to demand board focus over the coming year.
Baker Tilly’s 2021 Strategic Risks for Boards focuses on three key risks facing organizations resulting from challenges of the COVID-19 pandemic, including questions directors should ask themselves.
The report also highlights NACD survey findings about leading board priorities for 2021.
Authored by Raina Rose Tagle
No matter the size or industry, every organization manages risk and pursues compliance to some extent—but how effectively? The Three Lines Model helps leadership, including boards of directors, see the delineation of roles and responsibilities along the “three lines”: day-to-day management, risk oversight and monitoring functions, and risk assurance-oriented functions, such as internal audit. It also provides a customizable framework upon which to build your organizational understanding of and approach to risk management and monitoring functions.
After a cyber breach, it’s too late for “should haves”—but there’s still a chance for your company to respond quickly and appropriately to mitigate reputational and regulatory fallout. A recent roundtable cohosted by NACD and Baker Tilly in Chicago discussed specific post-breach considerations that boards should plan for include: