Preparing Boards
for the New Reality

Financial Literacy Programs

Get the Facts

There is no one-size-fits-all program for board education. Recognizing the unique challenges individual boards face, The Directors' Network offers boards a full spectrum of financial educational programs. Boards can select topics of highest relevance, or we can assist in the development of a comprehensive board education program.

    

Risk Oversight: Creating the Risk Intelligent Board

Increasing responsibility is being placed on directors to understand the full range of risks and exposures faced by the companies they are charged with governing. This session explores leading practices for understanding and addressing the organizationís state of preparedness to manage risks, while differentiating between the role of the board and the role of management.

Assessing the Quality of Earnings and Financial Position

Board members must be satisfied that a companyís financial reports reflect a fair and balanced picture of the operating results and financial position. By providing an overview of a proven framework for financial statement analysis, this session will help directors to fulfill their oversight obligations at the appropriate level of depth and detail. The program will then focus on emerging accounting and financial reporting issues of particular importance to a company.

Regulatory Update

Board members often find it challenging to stay current on the ever-changing regulatory environment. This program provides an update of the relevant regulatory environment impacting the company and its industry, exploring recent changes and forward-looking trends.

Ethics and Compliance Program Oversight

Amendments to the Federal Sentencing Guidelines in 2004 include a number of recommendations for board oversight. The nature and impact of the guidelines will be discussed, followed by an overview of practical approaches to implementing the recommendations.

Overview of International Financial Reporting Standards

Global financial markets demand consistency in the application of accounting standards and methodologies used in financial reporting. Today, some global companies are converting to International Financial Reporting Standards (IFRS). This course provides an overview of the challenges and technical issues in applying IFRS. We will also compare some of the most significant accounting standards with those required under GAAP in the United States.

Antifraud Programs and Controls

This session provides an overview of the respective responsibilities of the board and audit committee in preventing financial statement fraud. Common red flags and areas of heightened risk will be highlighted.

Beyond the Basics: Emerging Audit Committee Practices

As the dust settles on the legislative and regulatory requirements imposed on boards in the earlier part of this decade, audit committee members are ready to move beyond the aspects of simple compliance. This session will provide a brief overview of appropriate regulatory and other requirements as well as current developments related to director liability that are of particular interest to audit committees. With this understanding as a background, we will discuss proven techniques used by audit committees in the oversight of key areas, such as assessing earnings quality and the oversight of ethics and compliance programs.

Internal Control Concepts

Corporate failures and regulatory requirements related to executive certifications of financial statements have created a need for all business executives to understand internal control and concepts. An understanding of internal controls can help every director to navigate new requirements. Avoiding academic exercises and overly technical concepts, this presentation provides attendees with the basics.

Note that programs can also be developed around specific accounting and financial reporting issues of interest to the companyís audit committee.