BoardBoost Corporate Governance Seminars go Back to School" for the Board and CEO
Financial compliance and Sarbanes-Oxley (SO) still needs to be totally understood within each public corporation. Corporations are now seeking training, but are they getting the right information?", asks BoardBoosts President Morris Nunes
Falls Church, VA (PRWEB) July 20, 2004 -- BoardBoost Seminars President Morris Nunes has taken note of a trend that seems to be taking hold in major corporations.
Many CEOs and Corporate Board Members have stated that they feel handicapped by inadequate training in accounting and finance. They feel this lack all the more because of the responsibilities for financial compliance imposed under Sarbanes-Oxley, New York Stock Exchange and Nasdaq Rules and similar mandates. Finance is no longer just the province of the Chief Financial Officer. So, many Chief Executive Officers and many Board Members want to go back to school to shore up their knowledge in these critical areas." Nunes said.
I believe CEO's want to find the right kind of training for themselves and their Boards, but have great difficulty describing precisely what they're looking for. It's always hard to explain what hasn't yet been learned!", Nunes explained.
Nunes stressed that It has been two years now since the Sarbanes-Oxley bill passed. Although the legislation was supposed to reform corporate governance and lead to more accountability in the CEO's office, the numbers in quarterly reports still remain too confusing and misleading to the public. As troubling as that may be, S-O has raised the public's expectations, and so officers and directors are in the hot seat now more than ever to competently and wisely answer detailed questions about accounting procedures, financial decision-making and other complex micro-economic matters. Quick recall of specific facts is expected, but shooting from the hip can be hazardous to one's career.
"It's personally fascinating to me that many Board Members and CEO's who profess to be unfamiliar with accounting and finance often know more than they give themselves credit for. Where they tend to need help is in connecting up relevant facets of that knowledge to apply to finding efficient, even elegant, solutions to concrete - and otherwise intractable - problems."
Morris Nunes will be discussing more of this theory during the seminar that he is holding at the Tower Club in Tysons Corner Virginia on Thursday, September 9th. The topic of the Seminar The Search for Financial Truth -- When Can Accounting Be Trusted?" Mr. Nunes says that the seminar will focus on first principals to help Boards ask the right questions about corporate accounting and finance. Fundamentally, we all need to learn how to adequately test and confirm that information we are about to rely upon is, in fact, truly reliable."
When Nunes spoke before the Board of the Best Western hotel chain last April, 2004, he commended the board for recognizing the new metric for board performance is fast becoming the Sarbanes-Oxley mandates set by Congress in the wake of Enron, WorldCom and similar accounting scandals.
What boards and government agencies are not being made aware of is that information for compliance purposes should support mission success, not be a troublesome impediment," Nunes stated. Any Board that assures its organization has solid informational and decision processes and good communications will not find S-O to be traumatic, as good decisions fundamentally depend on good input information. Every Board member needs to ask the core question about corporate governance," explained Nunes, How do you know that the information that you receive and on which you cast your votes is not already flawed, biased, skewed, inaccurate, incomplete or just plain fraudulent?"
BoardBoost Corporate Governance Seminars go Back to School" for the Board and CEO (continues)
Nunes clarifies, A BoardBoost Seminar teaches Board Members how to strip away hype, skewed information and misleading data to get down to core, true facts on which decisions ought to be based. Without that capability it is very difficult for any Board to succeed and to protect itself against claims of negligence or worse."
About BoardBoosts Morris Nunes: Morris Nunes, Esq., is an attorney with a Wharton degree in finance and accounting,. He is on the faculty for both the Georgetown University MBA Program and Catholic University's law school. He has over a quarter century of experience advising businesses and non-profits. Author of five books including "Balance Sheet Management," Mr. Nunes has designed the unique BoardBoost Seminar for Directors. Each Seminar is customized to fit the individual needs of your Board's business and corporate culture, as Mr. Nunes works with boards on a one-on-one basis. To learn more about BoardBoost Seminars, providing Mission-Oriented Entity Oversight for Boards of Directors, in Government and Industry, please visit www.boardboost.com , or send an e-mail to info@boardboost.com. You may also contact Mr. Nunes care of HighViz Consulting Group at 1-800-380-2825.
NOTE: If you are interested in attending BoardBoosts Seminar The Search for Financial Truth -- When Can Accounting Be Trusted?"", at the Tower Club in Tysons Corner, Virginia, on Thursday, September 9th at 7:30 AM, please e-mail TowerClub@highviz.net for further information.
NOTE: If you are with the media and interested in interviewing Mr. Nunes about his unique concepts and approach to corporate governance, please contact Abbe Buck at the number enclosed in release contact information.
###
|
