BoardMatters Quarterly, June 2013

Unique boards, unique issues

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When considering complex business or governance issues, you can often gain insight by looking at what the competition is doing, consulting with advisors or discussing challenges with trusted peers.

But when it comes to taking action, your approach should be tailored to the unique circumstances of your board or company. For example, while some organizations are more transparent about their governance disclosures, others may have credible reasons for not doing so. Company size can also affect how boards or companies operate.

We explore these matters, discuss the debate on perceived tax avoidance and provide an update on the FASB and IASB convergence projects.

In this issue:

Enhanced audit committee reports: requests for more transparency are leading to additional disclosures
Investor activity and policy debates are prompting discussions among audit committee members about whether to go beyond the minimum required disclosures to shareholders.

Multinational companies and the taxes they pay
The amount of taxes paid by multinational companies and how these taxes are managed are under scrutiny. We explore how audit committees are responding.

Governance may depend on size
A new report examines some of the key differences between board practices at small and large companies.

Standard-setting update
A review of the FASB and the IASB’s recent progress on their convergence projects around revenue recognition, leases and financial instruments.