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Board Governance and Compliance

Effective corporate board members build mutual respect, in part because they share confidential information and oversee serious issues. In their role, they address significant compliance matters that have the potential of presenting serious risks to the company. Issues could possibly implicate senior management, create significant reputational harm, cause financial risk, or insight a regulatory investigation.

Given their responsibilities to the corporate organization, board members need to challenge one another’s ideas and assumptions to arrive at the best possible outcome to serve the organization.

Clear delineation of responsibility for overseeing and implementing the program is an attribute of an effective ethics and compliance program. Otherwise, the program result will lack key components or will fail to realistically address compliance risks.

In addition to oversight of the company’s business continuity planning, boards should have full oversight over activities including:

  • Obtain and review the compliance program and make updates quarterly or annually.
  • Review and approve the company’s code of ethical business conduct, as well as any other significant compliance-related policies.
  • Assess the structure and resources of the compliance function, including the personnel responsible for administering it, as well as its financial resources.
  • Plan a strategy for possible risks that the company could face. This was evident given the turmoil caused by the pandemic. Risks can include safety incidents, cybersecurity and data breaches, natural disasters, and economic pressures.
  • Hire the officers and define the responsibilities of the roles.

By retaining independent counsel from Dooley Gembala with an impartial frame of mind, our attorneys will review the results of your compliance risk assessments, program evaluations, audits, and employee surveys. We will help to develop strategies for monitoring activities to employ measures to enhance an ethical culture and build compliance program effectiveness.

Effective corporate board members build mutual respect, in part because they share confidential information and oversee serious issues. In their role, they address significant compliance matters that have the potential of presenting serious risks to the company. Issues could possibly implicate senior management, create significant reputational harm, cause financial risk, or insight a regulatory investigation.

Guidance for Effective Board Governance

By having a comprehensive board governance and compliance program, organizations can foster a culture of trust, transparency, and responsibility that will help them succeed in today’s competitive environment. An attorney can help explain the legal implications of different policies, procedures, and standards and provide advice on how to establish an effective corporate compliance program.

Our team of experienced attorneys help organizations establish a board governance and compliance program that meets the needs of its stakeholders, while also ensuring that it is in full compliance with all applicable laws, regulations, and standards.

Benefits of a comprehensive corporate governance program includes:

  • Improved corporate governance and compliance processes
  • Increased shareholder value
  • Effective risk management
  • Enhanced employee morale and productivity

Whether you’re launching a new business or looking for ways to improve your existing board governance and compliance structure, Dooley Gembala can provide the advice and support you need.

Frequently Asked Questions

What happens if an organization does not comply with its board governance and compliance policies?

An organization could face significant legal consequences, including fines, penalties, civil or criminal liability, reputational damage, or other repercussions if regulations are violated. It’s important for organizations to adhere to a compliance program to ensure that they are compliant with all applicable laws and regulations

How does Dooley Gembala help with board governance and compliance?

With outside counsel from Dooley Gembala attorneys, organizations will receive legal advice concerning the implementation of board governance compliance policies, procedures, and standards. We will also help to draft necessary documents for review and approval by governing bodies and help to ensure the organization is following all applicable laws and regulations. Attorneys will advise on how to implement effective monitoring systems to ensure compliance and guide organizations through any legal proceedings related to board governance violations. We will also provide ongoing guidance to ensure that your organization remains compliant and up-to-date with the latest regulations.

Contact Us

Please give us a call at 440.930.4001 or complete the form below. We look forward to connecting with you soon.






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