Podcasts about audit committees

In this address to the IIEA, Nicolai von Ondarza, Head of the EU/Europe Research Division at the German Institute for International and Security Affairs (SWP), and Pervenche Berès, Board Member of Fondation Jean Jaurès, and former Member of the European Parliament for France (1994-2019), discusses the recently published Report of the Franco-German Working Group on EU Institutional Reform. The Report's recommendations centre on three goals: strengthening the rule of law and the EU's democratic legitimacy, increasing the EU's capacity to act, and getting the EU ready for enlargement. About the Speakers: Pervenche Berѐs is a Board Member of Fondation Jean Jaurès, President of Association Europe-Finances-Régulation, a Member of the Ethic and Audit Committees of the ECB, and a Member of the AMF (Autorité des marchés financiers) Committee on Climate and Sustainable Finance. She was previously a Member of the European Parliament from 1994 to 2019, chairing the Committee on Economic and Monetary Affairs, and the Employment and Social Affairs Committee. Ms Berѐs also acted as Rapporteur of the Temporary Committee on the Financial, Economic, and Social Crisis, Vice-President of the European Parliament delegation to the Convention in charge of the European Union Charter of Fundamental Rights and Member of the European Convention in charge of drafting a Constitution for Europe. Dr Nicolai von Ondarza is Head of the EU/Europe Research Division at the German Institute for International and Security Affairs (SWP), a position he has held since 2020. From 2016 to 2020, he served as Deputy Head of the EU/Europe Research Division, and has worked in various positions at the SWP since 2010. Since 2013, Dr von Ondarza has been Organiser of the British-German Outlook Group, a yearly exchange between the SWP, Chatham House, the German Federal Foreign Office and the UK Foreign Commonwealth and Development Office (FCDO). From 2012 to 2015, he was a Lecturer at Europa-Universität Viadrina.

Meet State Auditor Candidate:  https://www.rickyhatch.com/about-ricky "Ricky has a passion for good government. Since his election as Weber Clerk/Auditor in 2010, his mission and purpose have been to operate the Clerk/Auditor's Office with the highest degree of integrity and transparency. He often says, “My job is to protect your money and your vote.” That statement proves true in both the fiscal improvements he has made, and the recognition he has earned in guiding national governmental accounting standards and election policy. Ricky is a public servant in the truest sense of the word. He is always willing to hear and discuss the recommendations and concerns of Utah's citizens. His expertise is evidenced by the many awards he and his team have earned, and the overwhelming outflow of support he has received across the state.   After graduating with honors from Brigham Young University with a master's degree in accounting, he worked as an information systems auditor and consultant for PricewaterhouseCoopers in Los Angeles and Warsaw, Poland. He worked as a business analyst and project manager in Germany and Boston. In 2002, he established, ran, and taught at a private K-12 school in Ogden, Utah, later becoming CFO and COO of a chain of private schools throughout the western U.S. He has been honored by his peers as Utah's County Auditor of the Year in 2013 and 2017 County Clerk of the Year in 2015 and 2022. He served as President of the Utah Association of Counties, President of the Utah Clerk and Auditor Association, and has chaired the Utah Clerk's Legislative Committee for the past eight years. Ricky served as the chair of Leadership Northern Utah, the leadership development program for the Ogden Weber Chamber of Commerce. A devoted fan of the U.S. Constitution, he served ten years on the Constitution Day Committee of Utah. He's also an Eagle Scout. Ricky has five fantastic children and three cute-as-a-button grandchildren. He speaks French, albeit slowly and with a funny accent.   Establishing an Internal Audit Function (700 attendees, Government Finance Officers Association, Minneapolis, 2014) Audit Committees for Governments (Eide Bailly, 2015) Best Practices for Public Sector ERP Modernization Initiatives (250 webinar participants nationwide, Eide Bailly, 2023) Segregation of Duties and Best Practices (Utah Association of County Commissioners and Council Members, 2021) Tax Sale Best Practices (Utah Association of Counties, 2018) Conflict Resolution (Utah Association of County Commissioners and Council Members, 2020) Citizens Academy (Weber State University, 2021) Girls' State (150 attendees, Weber State University, 2014, 2015) Elections Cybersecurity (Utah Association of Counties, 2018) Rotary Club (Ogden, 2012) Community Service (Utah Military Academy, 2016) National Elections Funding (U.S. Election Assistance Commission, Orlando, Florida 2017) Drop boxes – Best Practices (Pennsylvania Election Officials, 2021) Vote by Mail Best Practices (International Association of Government Officials, Nevada, 2021) Vote Centers and Vote by Mail Best Practices (Maryland Association of Election Officials, 2017, 2023) Vote by Mail and Cybersecurity (South Carolina Association of Recorders and Election Officials, 2018) Utah's Election-day Registration System (200 attendees, National Association of State Election Directors, Washington DC, 2019) Administering Elections During COVID 19 (National Association of Counties, webinar, 2020) Internet Voting, Possibilities and Warnings, (100 attendees, International Association of Clerks, Recorders, Election Officials, and Treasurers, Colorado, 2015) Internet Voting, (50 attendees, National Association of County Recorders and Clerks, California, 2015)"

Best of Investing 2023 AZ TRT S04 EP47 (210) 11-26-2023   What We Learned This Week:   Drew Niv on markets, Risk & Oil   Denver Nowicz of Wealth for Life on Taxes   Steve Zabilski of Piper Trust on Non Profits   Greg Talcott of Caliber Funds on Real Estate Investing & Opportunity Zones   Bryan McLaren of Zoned Properties on Specialized Cannabis Real Estate   Bob DeLean of Arizona Tech Investors & valuations   Rohan on Tech Stocks and careers       Seg. 1 – Clips From:   Assets, Interest Rates & Bubbles - Market Recap for 2022 w/ Drew Niv BRT S04 EP02 (164) 1-8-2023 What We Learned This Week Assets – Valuations have gone down, forces Investors to evaluate the worth of an Asset, Risk / Reward analysis, no more ‘free' money Interest Rates – Don't Fight The Fed, raising rates to lower value of assets Market Risk – can get Treasury Bills at 4 – 5%, risk-free, need good ROI to invest in stocks with 10 – 20% downside risk Oil Commodities – demand is up, supply is down, Gov't will keep the price of oil at $70 / barrel Bubbles / Crypto – does not have good utility, market has collapsed, Bitcoin & Ethereum will survive, has use, plus the Black Market   Guest: Drew Niv, Trader Tools & former Forex Trader LKIN: https://www.linkedin.com/in/drew-niv-123812160/ Drew Niv had a 20 year career in trading and FX (currency) markets. He founded one of the largest Forex trading companies on Wall Street, took it public (IPO), managed hundreds of staff, and oversaw $ billions in daily trading. Currently he runs a bank software company called Trader Tools, that specializes in FX markets. - https://www.tradertools.com/ Drew Niv is a Strategic, Technology Savvy, and Detail-Oriented Board Member and Global Business Executive with a history of award-winning performance as a visionary leader. Founded company that disrupted the FX industry, resulted in retail FX becoming a major factor of the global FX market. Developed breakthrough technology that enabled customers to transact spot FX at 70–90% less cost than the largest exchanges and ECNs. He has forged strategic partnerships with 1,000 institutional customers, including major hedge funds, all large banks, and other brand name financial institutions, both domestically and globally. Drew possess a unique understanding of market microstructure - the inner plumbing of trade matching, how technology intersects with business, and how to grow a business from a small startup through an IPO. Well versed in managing through a crisis and positioning a mature business to meet the unique challenges of a shrinking industry. Experienced in software product development; able to design and build trading software that people want to use; and experienced in managing a diverse, international workforce remotely.   Full Show: HERE   Related Show: HERE Market Cycles, Risk, & Ben Graham's Intelligent Investor - Finance Lessons from BRT BRT S04 EP29 (192) 7-23-2023   What We Learned This Week:     Mean Reversion & Market Cycles – Asset prices do not go up forever, but rather fluctuate Assets – Valuations have gone down, forces Investors to evaluate the worth of an Asset, Risk / Reward analysis, no more ‘free' money Interest Rates – Don't Fight The Fed, raising rates to lower value of assets Market Risk – can get Treasury Bills at 4 – 5%, risk-free, need good ROI to invest in stocks with 10 – 20% downside risk Wealthy own Assets, Business, Real Estate, Stocks are the best and most popular The Intelligent Investor Ben Graham's teaching, and seminal investing book - Ch. 8 on Mr. Market, & Ch. 20 on Margin of Safety     Seg. 2 – Clips From:   Wealth for Life – Own a Business, the Best Asset to Grow Wealth BRT S04 EP06 (168) 2-5-2023 Things We Learned This Week •          Wealthy use Different Strategies – how they approach investing, business, opportunities, tax strategy •          You're not going to get rich investing in stock, if you have a $50k / year salary, not saving & investing enough $ •          Wealthy own Assets, Business, Real Estate, Stocks •          Tax Strategy needed when you Earn $250K +, more income, more taxes •          Loans – using leverage is the key to Tax Free Income – put more $ money into investments •           Offense / Defense – segment Assets into categories, create income from Assets     Co-Host: Denver Nowicz, President - Wealth For Life   https://wealthforlife.net/brt/ https://twitter.com/denvernowicz  Denver is an advisor with nearly 20 years experience working with clients in investments and insurance, designing retirement plans with a combo of both. He takes us through different strategies for clients to get the best allocations for their money over the long term. It is the Combo Strategy of both Offense and Defense, the synergy of the mix, not ‘All or Nothing'.   Full Show: HERE   Running a Non-Profit Charity The Piper Trust w/ Steve Zabilski - BRT S04 EP27 (190) 7-9-2023 What We Learned This Week: Virginia G. Piper Trust - Virginia & husband Bob Galvin (founder Motorola) created in 2000 Charity Grants application process Investment to grow Trust Fund of $400m Phx Dream Ctr staff are largely made up of former victims giving back St Vincent helps the Homeless Population In Phx A for Arizona celebrates educators Guest: Stephen J. Zabilski, President & CEO https://pipertrust.org/about-us/officers-and-staff/ As President and CEO, Steve Zabilski leads Virginia G. Piper Charitable Trust's mission to enrich health, well-being, and opportunity for the people of Maricopa County. Steve joins Piper Trust as its fourth CEO after providing more than 17 years of dedicated service as a Trustee and member of the organization's Investment and Audit Committees. For the past 25 years, Steve served as CEO of the Society of St. Vincent de Paul—Phoenix Diocesan Council. His decades of private sector experience, coupled with his talent to lead with compassion and humility, continue to make an indelible mark on this community. Steve's ability to bring people together and catalyze the strengths of thousands of Vincentians, volunteers, employees, and donors significantly advanced the mission and services of St. Vincent de Paul.     Full Show: HERE     Seg. 3 – Clips From:   Investing in Real Estate Opportunity Zones w/ Greg Talcott of Caliber Funds AZ TRT S04 EP42 (205) 10-22-2023   What We Learned This Week Caliber Co is an integrated real estate company from service to construction to investment funds The biggest idea in funds right now is Opportunity Zones - investing in below medium income areas Caliber deals can last 5+ years, with an IRR of 17% Caliber has great lenders to get good interest rates, they fund deals 50/50 - loan to equity Location - always looking for great properties w/ community to support biz + other real estate building   Guest: Greg Talcott, Managing Director of Sales LKIN: https://www.linkedin.com/in/gregorytalcott/   Article on Greg: HERE Experienced sales executive with a demonstrated history of working in the venture capital and private equity industry. Skilled in Securities, Asset Management, Investment Strategies, Equities, Real Estate, and Financial Advisory. Strong media and communications professional, expertise in digital marketing to niche networks such as ultra high net worth individuals. BS focused in Law & Political Science from Arizona State University.   https://caliberfunds.co/  https://www.caliberco.com/ Real Estate Investment Experts   Caliber is a leading vertically integrated asset management firm whose primary goal is to enhance the wealth of investors seeking to make investments in middle-market assets. We strive to build wealth for our investor clients by creating, managing, and servicing proprietary products, including middle-market investment funds, private syndications, and direct investments. Our funds include investment vehicles focused primarily on real estate, private equity, and debt facilities. We market our services through direct sales to private investors, wholesaling to investment advisers, direct sales to family offices and institutions, and through in-house client services. Caliber's middle-market specialty allows the Company to compete with agility and speed in an evolving arena of alternative investments.   Full Show: HERE       Specialty Cannabis & Prop Tech Real Estate Services w/ Bryan McLaren of Zoned Properties - BRT S04 EP22 (185) 6-4-2023     What We Learned This Week Zoned Properties specializes in Cannabis related Real Estate There is High consumer demand for cannabis, it exists already, do not need to create it Cannabis dispensaries are in the retail asset class of real estate. Also called - Direct to Consumer real estate. Many of the past myths & propaganda about Cannabis on crime and other societal issues were wrong. Property values never went down. Cannabis is a $50-$70 billion projected sales industry, w/ a $200 billion Economic Impact Zoned Properties Tech Division and SaaS software may be the biggest part of the company in the future    Guest: Bryan McLaren, Chairman & CEO of Zoned Properties https://zonedproperties.com/about-zoned-properties/ https://www.linkedin.com/in/bryanmclaren/   Bryan McLaren is Chairman and CEO of publicly traded Zoned Properties (ZDPY). As a certified and licensed realtor, Green Roof Professional,  LEED Green Associate, and former City Sustainability Commissioner, Bryan has navigated state regulatory programs for cannabis commercial real estate in over ten markets for over 100 development projects.  Zoned Properties®, Inc. (OTCQB: ZDPY), a strategic real estate development firm whose primary mission is to provide real estate and sustainability services for the regulated cannabis industry, positioning the company for property acquisitions and revenue growth. They recently announced the market launch of its partnership with dispensary retail franchisor (The Open Dør). Zoned Properties invests in OpenDor with franchise model in cannabis using inspiration from McDonald's as an example & model.   Full Show: HERE     Seg. 4 – Clips From:   Arizona Tech Investors w/ Bob DeLean AZ TRT S04 EP46 (209) 11-19-2023   What We Learned This Week ATI - Arizona-based investors committed to supporting capital needs of early stage high growth technology driven companies within Arizona Applicants for Funding need to Answer many Q's What Problem does your Product Solve? Who is your Competition? How Big is the Market? Who are Your Advisors? What is the Business Plan? Sales Plan? Building a Company takes longer than you think, & costs more $ than you expect   Guest: Bob DeLean, Executive Director of Arizona Tech Investors LKIN: HERE https://arizonatechinvestors.com/about-us/leadership/ Bob DeLean has been an investor with ATI for more than 11 years and currently serves as the organization's Chairman. He spent eight years as a Senior Equity Analyst with Morgan Keegan & Co., Inc., a wealth management and capital market firm. It's now part of Raymond James Financial Inc. Since moving back to Arizona in 2004, Bob has made 28 angel investments in early-stage and startup companies, the majority being based in Arizona. Bob is an outdoors enthusiast who enjoys road trips and spending time in nature. Full Show: HERE     The Brains of the Tech Industry - Semiconductors w/ Rohan AZ TRT S04 EP40 (203) 10-8-2023   Things We Learned This Week Semiconductors (Microchips) are in so many of the common everyday devices people use: cell-phones, tablets, laptops, cars, TVs, fridge, etc Valuation of Pay in Tech Jobs - combo of salary, bonus, benefits, stock options & growth potential Carbon Neutral is the eco-goal of many tech co's & Gov't by 2050, will require R&D, new materials Tech Talk & the Future.... AI, Turing Test, Recommendation Model, Moore's Law, & more   Full Show: HERE       More Info on WFL and Tax Free Matching: HERE   Wealth For Life Topic:  HERE   Link to Taxes Show on 10/31/2021 w/ Denver: Here Link to Offense / Defense Show on 6/6/2021 w/ Denver: Here Link to Shows, Denver was a Guest: Here   Investing Topic: https://brt-show.libsyn.com/category/investing   Tech Topic: HERE   ‘Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT      Thanks for Listening. Please Subscribe to the BRT Podcast.     AZ Tech Roundtable 2.0 with Matt Battaglia The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.  AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.  Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…    AZ TRT Podcast Home Page: http://aztrtshow.com/ ‘Best Of' AZ TRT Podcast: Click Here Podcast on Google: Click Here Podcast on Spotify: Click Here                    More Info: https://www.economicknight.com/azpodcast/ KFNX Info: https://1100kfnx.com/weekend-featured-shows/     Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.  

Susan Chapman-Hughes has quite an impressive resume. Currently, she consults with several Fortune 1000 C-Suite leaders as they embark upon transformation and try to change their organization. She's the co-host of “Navigating the Work Compass” every Wednesday at Noon EST on LinkedIn Live, and is the author of the upcoming book Why Should I Follow You, which is a primer on connected leadership. And today's conversation really dives into what Susan thinks are best practices when it comes to leadership, specifically around empathetic leadership and the power that comes with empathy. She's an Independent Director of the JM Smucker Company, where she serves on the Compensation Committee. She's also an Independent Director of Toast and chair of the Compensation Committee over there. Previously, she served as an Independent Director at Potbelly Corporation, where she led both the Compensation and Audit Committees. She most recently was the Executive VP and GM of Global Digital Capabilities, Transformation, and Operations in the Global Commercial Services Division at American Express, where she led the digital transformation of customer experience and drove the use of big data, predictive analytics, and machine learning to power business strategy.   Susan had a number of amazing insights during our conversation. Some of them include: “Writing a book is probably one of the hardest things I've ever done in my life” (5:55). “The power of growing great leaders was really the key to success for me in business” (6:45). “I always had to lean on the talents skills of the people around me” (7:05). “Being an empathetic leader gave me this leg up” (7:15). “Everybody's role is important, and I think sometimes we forget that” (9:05). “The bigger your organizations get, the more you realize the key to leadership is really around how you connect with people, how can you galvanize them around the strategy and the ideas that you want to work towards, how can you empower them to go and execute, can you have shared goals and shared interests, and can you create a situation where conflict can be resolved constructively for the good of the organization? And that all starts with trust” (9:15). “Well-meaning doesn't always translate into empathetic” (10:00). “The pandemic showed us the difference between leaders who connect with their folks and leaders who don't” (10:55). “[Going towards hard things] is a part of who I am” (12:35). “Being a black CEO of a company was not a thing when I was young” (13:40). “[I do hard things] because I have a passion for learning” (15:00). “When you push yourself out of your comfort zone and you try to work on things that you're not good at, in situations where the stakes are really low, it actually creates a tremendous opportunity for growth in a way that's not hurtful to you” (17:45). “What can I give to be impactful with the things I've been gifted with?” (20:45). “I have to role model what integration looks like for [my daughter] so that as she gets older and wants to pursue her passions and her dreams, she feels like her choices don't have to be binary” (30:20). “My role as a parent is not to inform or impose my will on [my daughter], it is actually to help figure out what it is she wants and help her to guide that in a way that will impact the world” (31:40). “Motherhood is the hardest job I've ever had, and it changes every day” (34:20). “Being a parent forces you to have to be flexible” (36:25). “The tenets of leadership aren't hard, but the commitment to doing it takes effort and engagement” (42:30). “Come as coachable” (46:50). “I'd much rather have someone who's pretty good who's willing to learn and grow, who's open and coachable, who's always going to be thinking about the team, than somebody who's just brilliant and can't get along with anybody” (47:15). “The leaders who I respect the most are the ones who saw me, who understood who I was, what I was trying to accomplish, were not intimidated by that, could appreciate who I was as a person, and really worked hard to help me” (48:00). “The reason why I'm self-aware is because I seek [feedback], I'm always looking for [it]” (48:50). “The more you can prepare an organization to be a change absorber and to integrate, the more likely you're going to be to have people who connect and want to be there” (51:45). “Staying humble but being decisive is very important [as a CEO]” (52:30). “You can be [compassionate to people] and yet not know what they actually need” (1:00:50).   Additionally, you can find Susan's website here and follow her on Twitter, Instagram, and LinkedIn as well. Thank you so much to Susan for coming on the podcast! I wrote a book called “Shift Your Mind” that was released in October of 2020, and you can order it on Amazon and Barnes and Noble. Additionally, I have launched a company called Strong Skills, and I encourage you to check out our new website https://www.strongskills.co/. If you liked this episode and/or any others, please follow me on Twitter: @brianlevenson or Instagram: @Intentional_Performers. Thanks for listening.

Running a Non-Profit Charity The Piper Trust w/ Steve Zabilski - BRT S04 EP27 (190) 7-9-2023 What We Learned This Week: Virginia G. Piper Trust - Virginia & husband Bob Galvin (founder Motorola) created in 2000 Charity Grants application process Investment to grow Trust Fund of $400m Phx Dream Ctr staff are largely made up of former victims giving back St Vincent helps the Homeless Population In Phx A for Arizona celebrates educators   Guest: Stephen J. Zabilski, President & CEO https://pipertrust.org/about-us/officers-and-staff/ As President and CEO, Steve Zabilski leads Virginia G. Piper Charitable Trust's mission to enrich health, well-being, and opportunity for the people of Maricopa County. Steve joins Piper Trust as its fourth CEO after providing more than 17 years of dedicated service as a Trustee and member of the organization's Investment and Audit Committees. For the past 25 years, Steve served as CEO of the Society of St. Vincent de Paul—Phoenix Diocesan Council. His decades of private sector experience, coupled with his talent to lead with compassion and humility, continue to make an indelible mark on this community. Steve's ability to bring people together and catalyze the strengths of thousands of Vincentians, volunteers, employees, and donors significantly advanced the mission and services of St. Vincent de Paul.   During Steve's tenure, St. Vincent de Paul's health clinic space doubled, enabling treatment for many more people; dining rooms served meals 365 days a year; three urban farms were installed that provide scores of food-insecure people with fresh produce daily; and, a transitional shelter and resource center was established. Further, the St. Vincent de Paul community created an inspiring environment where people find purpose and joy through myriad volunteer opportunities. St. Vincent de Paul received a President George H.W. Bush Points of Light Award in 2001 for having one of the most family-friendly volunteer programs in the country. Prior positions include senior vice president with Transamerica Insurance Group and audit manager for the accounting firm KPMG (formerly Peat Marwick). Steve is a member of the board of trustees of St. Vincent de Paul and Great Hearts Arizona. He is a past member of the American Institute of Certified Public Accountants and the FBI Citizen's Academy and has served as president of the board of trustees of Ville de Marie Academy among several school and parish advisory councils. Steve was honored by Grand Canyon University's Colangelo College of Business with a Colangelo Servant Leadership Award in January 2023.   History of Piper Trust Philanthropy and Vision The wife of Motorola founder Paul V. Galvin, Virginia Galvin Piper sought to follow her husband's philanthropic example by establishing a charitable legacy of her own. “For me,” she wrote, “managing the stewardship of charitable giving is a moment-to-moment dignified responsibility of a truly high calling in human affairs and human relations.” ·        For the last three decades of her life Mrs. Piper lived in Paradise Valley, Arizona, where she moved from Chicago with her second husband, Kenneth M. Piper. During that time she worked quietly and steadily at strengthening Phoenix-area nonprofits. ·        Mrs. Piper established the Trust in 1995 and appointed four lifetime trustees to oversee the work of the foundation. Shortly after Mrs. Piper's death in 1999 the trustees began the formal work of the Trust. ·        Upon settlement of Mrs. Piper's estate in 2000 the Trust received approximately $600 million. This sum made the Trust one of the nation's 100 largest foundations.   Devotedly, Virginia: The Life of Virginia Galvin Piper  compiles over 100 interviews with people who knew Mrs. Piper.   Grantmaking ·        In December 2000 a select group of organizations, which Mrs. Piper had supported over the years, received from the trustees eight Cornerstone Grants. These grants totaled $41 million. ·        February 2002 saw trustees award the first round of competitive grants, which totaled $11.5 million, to 68 organizations. ·        Each year nonprofits serving the people of Maricopa County receive an average of $25 million from Piper Trust. Since the Trust began awarding grants in 2000, it has invested more than $684 million in local nonprofits and programs as of as of July 2022.       Notes:  Seg. 1   History of the Trust  Steve Zabilski bio and past work at St. Vincent Was on the board at Piper Trust, now on the board at St. Vincent  Investment portfolio of $400 mil, fiduciary responsibility to grow funds Per non-profit rules, IRS Code 5013C, must give away 5% of the fund per year, or $20 mil + other expenses of Trust  Prudent investments of stocks, bonds, private equity, venture capital, hedge funds, some alternative investments Some funds, investment is illiquid, cannot get funds easily Work with 1 financial group who oversees the fund     Seg. 2    In 2020, Covid hit organizations hard, and difficult to get donations Higher education grants, ex. – Creighton University, built med school in Phoenix Only donate to business in Maricopa County Health and medical research – ASU, TGen Senior needs and older adults – food assistance, St. Vincent homeless shelter Boys & Girls Club, Boys Hope & Girls Hope, High School orgs Board Meeting every month, lasts 3 hours and is very involved Financial statement review, investment portfolio update Program Updates – who to fund, how much, is it a multi-year grant Chronicle of Philanthropy news Audit Committee- internal controls, Mgmt letters Finance Committee   Breakfast meeting monthly    Seg. 3 Special Day in Sep. 2021 – donated $123 mil, average donation in a year, 5% or $20 mil From April 2020 to June 2021, fund had grown $123 mil, made decision to give away 100% of funds, Sep. 2021 met with 71 charities, had long term donations and make the $123m donation, unrestricted funds, charities could use the $ for whatever they needed  Restricted Funds – when a donation is for a specific purpose or project, building a center, etc.     Grant Cycle – App process, FAQ on website  https://pipertrust.org/grant-process/faq/ Q: What does Piper Trust fund? A: Piper Trust makes grants to projects that intervene in the following areas: ·        Arts and Culture ·        Children ·        Education ·        Healthcare and Medical Research ·        Older Adults ·        Religious Organizations Piper Trust's particular interest lies with projects that benefit young children, adolescents and older adults in Maricopa County. The Trust makes grants to faith-based organizations that serve these target populations in a manner consistent with program guidelines.   Q: What types of organizations does Piper Trust fund? A: Piper Trust makes grants to actively operating Section 501(c)(3) organizations in Maricopa County. These organizations must have been in operation for at least three years from the effective date of their IRS ruling.  Special rules apply to private foundations and 509(a)(3)(Type III) organizations.     Letter of Inquiry, then Submit application for review: Q's and decision process, must meet guidelines, longer process for new request, due diligence, how org runs, check paperwork, financials, tax returns, confirm status of 5013C, internal reviews, need budgets and plan for money take 2 months   Piper Trust has ongoing relationships with charities, where grant process can be quicker, usually donates to same org every other year  Multiyear Grant – could be ongoing donation   Seg. 4 – Charity Show Flashback  BRT Holiday Show – We Give Thanks & Give Back - BRT S02 EP 46 (93) 11-14-21   Guest: Steve Zabilski, Executive Director of St Vincent DePaulhttps://www.stvincentdepaul.net/about/our-board Homeless Population in Phx Struggling and How to Help Help to Feed, Clothe, House, Heal those who need it most   Things We Learned This Week: ·         St Vincent DePaul helps feed and clothe the homeless population  ·         St Vincent also provides financial assistance to families in need, and has clinics on site ·         MAM is helping the average military family get by ·         Hope & A Future helps foster kids find a brighter future  ·         A for Arizona is working with teachers who are improving education     Steve Zabilski has served as the Society of St. Vincent de Paul's Executive Director since 1997. Prior positions include senior vice president with Transamerica Insurance Group and audit manager for the accounting firm KPMG LLC. Steve Zabilski embodies the philosophy of serving those in need. And appropriately, he is well-situated to live out those precepts of charity as CEO of the Society of St. Vincent de Paul (SVDP) Phoenix, where he oversees the day-to-day operation of the organization's 250 employees and thousands of volunteers throughout Arizona.  The Society of St. Vincent de Paul is dedicated to feeding, clothing, housing and healing individuals and families in our community who have nowhere else to turn for help. As important, SVdP provides meaningful opportunities for volunteers to serve their neighbors in need with love and compassion.   Phoenix Dream Center – from 7/18/2021, Seg. 2 Guest: Michelle Tipton, Public Relations/ Volunteer Coordinator, Phoenix Dream Center https://phoenixdreamcenter.org/ https://phoenixdreamcenter.org/story/ https://phoenixdreamcenter.org/kfnx/ - to help & donate, tax deductible The problem of Human Traffic is a bigger issue than most people realize.   Emily Anne Gullickson, CEO of A for Arizona - www.aforarizona.org As employers, innovators, and investors in the future, we remain committed to ensuring business leaders stay engaged as education champions. We aim to continue to educate and build wider support from the business community on the ambitious, aggressive, and comprehensive education reform possibilities designed from the needs and best practices of Arizona's exceptional educators   Full Show: HERE     For More Info and Community Shows or to Help: https://brt-show.libsyn.com/category/Community     ‘Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT   Thanks for Listening. Please Subscribe to the BRT Podcast.   Business Roundtable with Matt Battaglia The show where Entrepreneurs, High Level Executives, Business Owners, and Investors come to share insight and ideas about the future of business. BRT 2.0 looks at the new trends in business, and how classic industries are evolving.  Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more…  BRT Podcast Home Page: https://brt-show.libsyn.com/ ‘Best Of' BRT Podcast: Click Here BRT Podcast on Google: Click Here BRT Podcast on Spotify: Click Here                    More Info: https://www.economicknight.com/podcast-brt-home/ KFNX Info: https://1100kfnx.com/weekend-featured-shows/   Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.

126. Susan E. Chapman-Hughes - Empathic Leadership “Think about the leaders that you have admired the most in your career. What was it about them that made you get really excited about working with them? Usually it's because they knew your name. Let's start with the basics. They understood why you came to work every day. They invested in you. They could see things in you that you couldn't see yourself. They wanted you to be successful, so they were rooting for you.” - Susan Chapman-Hughes Guest Bio: Susan Chapman-Hughes Global C-Level Business Executive / Tech Industry Advisor / Corporate Board Director A proven leader of transformation and innovation, Susan Chapman-Hughes most recently was the EVP/GM of Global Digital Capabilities, Transformation and Operations (GDCT&O) in the Global Commercial Services (GCS) division at American Express where she led the digital transformation of customer experience and drove the use of big data, predictive analytics and machine learning to power the business Go to Market strategy. Prior to her tenure in GDCT&O, she led the GCS U.S. Large Market Business, leading the business from decline to double digit growth and significantly improving NPS, and, as head of Global Real Estate and Workplace Enablement, led the groundbreaking and award-winning global workspace transformation (Bluework). A driver of innovation and business efficiency efforts, Susan's teams have been recognized by multiple Chairman's Awards for Innovation. Prior to American Express, she held many key senior roles for Fortune 500 companies in financial services and technology. She is an advisor to many pre-ipo (seed through late stage) and public companies specializing in go to market and human capital strategies/plans as well as building business scale. She currently serves as an advisor to companies in the Web3/Crypto, Healthcare Transformation and Consumer Beauty Technology sectors. Ms. Chapman-Hughes is an independent director of the J.M. Smucker Company (SJM) where she chairs the Compensation Committee. She is also an independent director of Toast where she chairs the Compensation Committee and serves on the Nominating and Governance Committee. Previously, she served as an independent Director for Potbelly Corporation (PBPB) where she led both the Compensation and Audit Committees. She has received many accolades for leadership including being named one of “The Elite 100” by Diversity Woman, one of the Most Influential Women in Payments, by PaymentsSource, “Grio 100” by Grio.com/NBC Universal and as one of the “100 Most Creative People in Business” by Fast Company. In addition to her professional roles, Ms. Chapman-Hughes is committed to volunteer work for non-profit community development organizations across the United States and remains an active mentor to young people in her community. She is a member of the Board of the New York Junior Tennis League. She is a Trustee Emeriti of The National Trust for Historic Preservation and previously held trustee positions with A Better Chance, and Girls Inc. Ms. Chapman-Hughes holds a Master of Business Administration in Real Estate and Urban Land Economics from the University of Wisconsin-Madison. She also holds a Master of Regional Planning from The University of Massachusetts-Amherst and a Bachelor of Science in Engineering from Vanderbilt University. Ms. Chapman-Hughes resides in New York with her husband and daughter. R.O.G. Takeaway Tips: Ask yourself these questions as you reflect on your leadership: Are you consistent?  Are you trustworthy?  Are you authentic?  Are you vulnerable/real? Follow the Golden Rule: Treat others the way you want to be treated. Be willing to receive feedback. Be open to receiving help when needed. Stretch yourself for growth by stepping out of your comfort zone and gaining new experiences. Check in with yourself regularly to ensure you have the right processes in place for success. Resources: Susan Chapman-Hughes on LinkedIn (in/susanchapmanhughes) Susan Chapman-Hughes on Signitt (susan-chapman-hughes) Susan Chapman-Hughes on Instagram (@susanchspeaks) Inspiration And Insights: Asking for What You Want by Susan Chapman-Hughes Point of View: Being Unapologetically Yourself by Susan Chapman-Hughes Chat-GPT Google Bard Coming Next: Episode 127, Building Bridges Coaching Tips for Generous Leaders with Shannon Cassidy. Credits: Susan Chapman-Hughes, Sheep Jam Productions, Host Shannon Cassidy, Bridge Between, Inc.

In the lead up to the 2022 AGM The Sash has opened the door to board nominee's to come on the show and pitch to the members why they should be elected. Our first guest is independent candidate Paul White. Paul started his career with KPMG and over his career has worked in assurance, governance and risk management roles at EY, REA Group, ANZ and Australia Post. Paul is a Chartered Accountant, Certified Internal Auditor and Graduate of the Australian Institute of Company Directors. He runs his own risk advisory business where he supports Boards execute strategy by managing risks and compliance matters successfully. Paul currently sits on the Board of Directors at VicTrack and Melanoma & Skin Cancer Trials Ltd and he serves on two Audit Committees. Visit Store Join PREMIUM Go Dons

In this episode, CII General Counsel Jeff Mahoney interviews Preeti Choudhary of the University of Arizona Eller College of Management. Professor Choudhary is a co-author of a recent paper titled "Audit Committee Oversight and Financial Reporting Reliability: Are Audit Committees Overloaded?"

Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley. Today is the second part of a 2-part series that we have been planning for a while, and the timing turned out to be perfect.  Lisa is speaking with an all-star panel of Audrey Harris, Bethany Hengsbach and Dionne Lomax,  Managing Directors from Affiliated Monitors.  Audrey's area is  Global Anticorruption, Compliance, Ethics & Non–Financial Risk, Bethany focuses on Global Corporate Compliance, with a focus on healthcare, and Dionne works in Antitrust and Trade Regulation, as well as being a professor at Boston University. The timing for this series turned out perfectly, as the group was able to get into an in-depth discussion about Lisa Monaco's statements in September about the Monaco Doctrine and some of their key takeaways.  In Part 2, the group discusses the statements about compensation and clawbacks, and the importance of appropriate resources, among other topics. They also provide their individual perspectives on two other topics that many of us discuss.  One is the reporting line for CECOs, and the importance of a direct line to the Board or Audit Committees.  The other is the certification of Corporate Compliance programs by CEOs and CECOs. The entire discussion was extremely insightful, filled with practical ideas and good tips for everyone who is trying to build and/or maintain a program.  Listen to Part 1 here. The Great Women in Compliance Podcast is on the Compliance Podcast Network with a selection of other Compliance related offerings to listen in to.  If you are enjoying this episode, please rate it on your preferred podcast player to help other likeminded Ethics and Compliance professionals find it.  If you have a moment to leave a review at the same time, Mary and Lisa would be so grateful.  You can also find the GWIC podcast on Corporate Compliance Insights where Lisa and Mary have a landing page with additional information about them and the story of the podcast.  Corporate Compliance Insights is a much-appreciated sponsor and supporter of GWIC, including affiliate organization CCI Press publishing the related book; “Sending the Elevator Back Down, What We've Learned from Great Women in Compliance” (CCI Press, 2020).  If you enjoyed the book, the GWIC team would be very grateful if you would consider rating it on Goodreads and Amazon and leaving a short review.  Don't forget to send the elevator back down by passing on your copy to someone who you think might enjoy reading it when you're done, or if you can't bear parting with your copy, consider it as a holiday or appreciation gift for someone in Compliance who deserves a treat. You can subscribe to the Great Women in Compliance podcast on any podcast player by searching for it and we welcome new subscribers to our podcast. Join the Great Women in Compliance community on LinkedIn here. 

How did John start his career at Bose? How was the noise canceling headphones invention born? How do you market innovations? John Carter brings his immense knowledge and experience to this episode of the Xagility™ podcast. John Carter has been a widely respected adviser to technology firms over his career. John is the author of "Innovate Products Faster: Graphical Tools for Accelerating Product Development". As Founder and Principal of TCGen Inc., he has advised some of the most revered technology firms in the world: • Abbott, Amazon, Apple • BOSE, Cisco, Fitbit • HP, IBM, Roche He specializes in the value creating aspects of product development – from the strategy and innovation processes, through product definition, execution and launch. He has helped companies cut time to market, rapidly scale their product program, and improve innovation with customer led insights which has led to greater profitability, reduced costs, and improved customer satisfaction. John currently serves on the Board of Directors of Cirrus Logic (CRUS) a leading supplier of mixed signal semiconductors where he is involved with company strategy and sits on the Compensation and Audit Committees. He was the founder of Cambridge-based Product Development Consulting, Inc. (PDC), a consultancy advising Fortune 500 companies in the areas of research, development, and marketing. During his time there, he worked with Apple to create the Apple New Product Process (ANPP) which is used in all product divisions. He has been an invited speaker at MIT and Stanford University, and a member of the faculty at Case Western's Executive program. Before starting PDC, John was Chief Engineer of BOSE Corporation. John is the inventor of the Bose Noise Cancelling Headphones and shares the original patent with Dr. Amar Bose. He was one of the initial contributors in BOSE's entry into the automobile OEM business and led the product and business development of BOSE's patented noise reduction technology for the military market. He earned his MS in electrical engineering from the Massachusetts Institute of Technology and a BS in engineering from Harvey Mudd College in Claremont, CA. John Carter's LinkedIn: https://www.linkedin.com/in/jcartertcgen/ John Carter's Twitter: @jcarter_tcgen Product Development: https://www.tcgen.com/agile/product-development/ John Coleman's LinkedIn: https://www.linkedin.com/in/johncolemanagilitychef/ John Coleman's website: https://orderlydisruption.com/ --- Send in a voice message: https://podcasters.spotify.com/pod/show/xagility/message

Sue Harnett knows a thing or two about helping others' voices be heard, and she's a fierce advocate for others. Through her many years in Fin-Tech and banking, as well as her experience being an angel investor and helping start ups. Sue has a heart for women leaders and business owners. This week's episode 19 of How Women Inspire Podcast is about growing your network and asking the right questions to help others expand their horizons and ideas! Sue currently serves as Independent Director, Nomination & Governance Committee Chair, and a member of the Risk Committee of the OFG Holding Company Bank Board (NYSE:OFG) and a member of the Compensation & Human Capital and Audit Committees of Life Storage (NYSE:LSI). She recently joined the Board of American Enterprise Group, a mutual insurance company and is a member of the Audit Committee. Previously she served on the Board of Directors of First Niagara Financial Group. She is certified by the National Association of Corporate Directors as a Director and a Governance Fellow and a Qualified Risk Director when she was awarded a Certificate in Risk Governance from the DCRO Institute. To give back, Sue is a founding limited partner of How Women Invest and a member of the Executive Board of How Women Lead an organization committed to increasing venture funding to women led companies.In this episode of How Women Inspire Podcast, Julie Castro Abrams and Sue Harnett are sharing the importance of asking great questions and actionable steps you can take right now to help other women succeed beside you. Some of the talking points Julie and Sue go over in this episode include:Balancing Motherhood, careers, and other challenges throughout the ages as women in successful career fields.The power in asking good questions in board meetings, and the role you play as a board member, whether it's in banking or start ups.Why it's important for other women to join boards and why Sue puts in extra work to help fellow women join them.Innovations in Fin-tech that Sue sees that have a strong potential to change the trajectory of women in finances. This episode will encourage you to humbly help others and be a fierce advocate for others through networking. Be sure to tune in to all the episodes to receive tons of practical tips and to hear even more about the points outlined above.Thank you for listening! If you enjoyed this episode, take a screenshot of the episode to post in your stories and tag me!  And don't forget to follow, rate and review the podcast and tell me your key takeaways!CONNECT WITH SUE HARNETT:LinkedInCONNECT WITH JULIE CASTRO ABRAMS:LinkedIn - JulieHow Women LeadHow Women InvestHow Women GiveInstagram - HWLLinkedIn - HWLFacebook - HWLLINKS: Book: Lean Inwww.goalsetter.co

In each episode of our Year-end toolkit series, you'll find something relevant to the year-end reporting process.This week Heather Horn was joined by Stephen Parker, partner in PwC's Governance Insights Center, to discuss the ways that financial reporting teams can effectively contemplate and manage their audit committee reporting and communications process for year end.In this episode you'll hear them discuss:5:24 - The core responsibilities of the audit committee8:06 - The value of highlighting what's new or changed13:36 - Using dashboards effectively19:02 - Prioritizing the agenda23:02 - The topics top of mind for audit committees26:51 - Audit committees focus on ESG29:38 - Managing the “pre-read” materials35:59 - Keeping current throughout the year40:48 - Dealing with different styles of committee chairs and members45:55 - Final tips to increase director engagement48:36 - Heather tries to stump Stephen with some triviaWant to learn more? Listen to our previous podcasts in the Year end toolkit series, Reminders from PwC's National Office, Statement of cash flows, and Resolving complex issues.Stephen Parker is a partner in PwC's Governance Insights Center, which strives to strengthen the connection between directors, executive teams, and investors by helping them navigate the evolving governance landscape. With more than 30 years of experience, Stephen has advised boards of directors on a variety of complex financial reporting matters. Stephen's client service experience has also included energy and utility companies,  financial services companies, and nonprofits.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request. Please send requests to us_podcast@pwc.com.

Abstract: “As things are changing in the world in which we live, they are changing in the boardroom as well. If you are going to be successful as a company or board, the culture plays such a mission critical role in that for the long term.” - Pat Condon Audit committees play a central role in ensuring the financial integrity of public companies and consequently serve as a backbone for overall board governance. They also provide a great deal of the oversight for boards on issues like corruption, fraud, and cybersecurity. But how do audit committees impact the culture, ethics, and compliance of major companies? In this episode of the Principled Podcast, host David Greenberg explores this question with Pat Condon, Audit Committee Chair and board director of Entergy Corporation. Listen in as the two discuss the various priorities of board committees and how they help shape a board's impact on corporate culture.   What you'll learn on this episode: [2:40] The overall architecture and role of audit committees. [4:30] How the roles of the audit community have evolved during Pat's time in the field. [5:20] How corporate culture informs Pat's decisions as a board member and audit chair. [8:05]  Advice for ethics and compliance officers to build a stronger relationship with the audit community. [11:32] Can audit communities pay enough attention to corporate ethics and compliance discussions? [16:39] How can culture be measured? [20:00] The evolving expectations of stakeholders of major companies. [22:15] What do boards need to change to keep up with evolving expectations?   Featured guest: Pat Condon joined Deloitte & Touche LLP as a partner in 2002, where he provided various consulting and attest services to clients and held a number of regional and national leadership positions until his retirement in 2011. Prior to joining Deloitte & Touche LLP, he was a partner at Arthur Andersen LLP where he provided similar services to clients and held similar leadership positions. In addition to serving on the board of directors and chairing the audit committee of Entergy Corporation, a Louisiana-based integrated energy company, Pat also serves on the boards of Urban Gateways, a Chicago-based 501(c)(3) organization whose mission is to educate and inspire young people by delivering high-quality, accessible arts experiences that advance their personal and academic growth; and the Brother Rice High School Foundation, also a Chicago-based 501(c)(3) organization. From May 2012 until its December 2015 sale to The Kroger Co., he also served as an independent director and chair of the audit committee of Roundy's, Inc., a leading Midwest grocery company located in Milwaukee, Wisconsin. And from March 2012 to May 2017 he served on the board pf directors and chaired the audit committee of Cloud Peak Energy, a Wyoming-based coal producer.   Featured Host:  David Greenberg serves as Chair of the Governance and Risk Assessment Committee and a member of the Audit Committee of International Seaways (NYSE: INSW), one of the largest global crude oil and petroleum tanker companies.  Mr. Greenberg's previous board experience (2006 to 2016) was as the independent director – and member of both the Audit and Compensation Committees --of APCO Worldwide, a private communications and government affairs consultancy and as a director (2013 to 2016) of Clean Tech Group, which creates opportunities for industrial companies to invest in innovative, clean technology.  He also served for 5 years as Chairman of the Board of Trustees of The Keystone Center, a Colorado non-profit that brings together oil, chemical and pharmaceutical companies with leading NGOs to find solutions to complex public policy challenges at the federal and state levels. Greenberg is currently Managing Director of Cortina Partners LLC, a private equity firm that owns companies in the air medical, addiction treatment, bedding, textile and outdoor recreation industries and is CEO of Acqua Recovery, a residential drug and alcohol addiction center.  He also advises boards and executive teams on strategy, compliance, leadership and culture as a Special Advisor for LRN Corporation, and from 2008 through the end of 2016 was a member of LRN's Executive Committee. For 20 years prior to 2008, Mr. Greenberg served in various senior positions overseeing government affairs, corporate affairs, communications and strategy at Altria Group, Inc. – then the parent company of Philip Morris USA, Philip Morris International, Kraft Foods and Miller Brewing – culminating in his role as Senior Vice President, Chief Compliance Officer and a member of the Executive Committee.  As one of five senior vice presidents of the corporation, he served on the Management Committee, which oversaw all strategy and company operations.  He was also a principal architect of the company's very successful efforts to end the ‘tobacco wars' which threatened the company's very existence.  Earlier in his career, Mr. Greenberg was a partner in the Washington D.C. law firm of Arnold & Porter and also served as Legislative Director and General Counsel of the Consumer Federation of America.  He attended Williams College and has JD/MBA degrees from the University of Chicago.  Greenberg has testified before the U.S. Congress, the European Union, the Israeli Knesset and other governmental bodies over two dozen times and has appeared on ABC Nightline, the CBS Morning News, BBC Morning, and the PBS News Hour, and has spoken at leading events for CEOs and boards.   Transcript: Intro:     Welcome to The Principled Podcast, brought to you by LRN. The Principled Podcast brings together the collective wisdom on ethics, business and compliance, transformative stories of leadership and inspiring workplace culture. Listen in to discover valuable strategies from our community of business leaders and workplace change makers. David Greenberg: Audit committees play a central role in ensuring the financial integrity of public companies, and consequently serve as a backbone of overall board governance. They also provide a great deal of the oversight for boards on issues like corruption, fraud, and cybersecurity. But how do audit committees impact the culture, ethics, and compliance of major companies? Hello, and welcome to another episode of The Principled Podcast. I'm your host, David Greenberg, LRN's former CEO and now special advisor. I also serve as a board member, governance committee chair, and sit on the audit committee of International Seaways, one of the largest global oil tanker companies. Today, I'm joined by Pat Condon, audit committee chair and board director of Entergy Corporation, an integrated energy and utility company serving millions of customers in Arkansas, Louisiana, Mississippi, and Texas. We're going to be talking about the various issues and priorities of board committees and how they help shape a board's impact on corporate culture. Pat is a real expert in this space, having served as a director and audit committee chair for both Roundy's, a leading grocery company, and Cloud Peak Energy, a major U.S. coal producer. A former Big Four accounting partner, Pat has also served on the boards of 501(c)(3) organizations such as Urban Gateways and the Brother Rice High School Foundation. Pat, thanks for coming on The Principled Podcast. Pat Condon: David, I'm happy to be here. As you and I have talked, the role of the audit committee has certainly evolved over the years. I go back long enough that when the audit committees first started, the role was a very narrow one. And we're here to talk about some of the nuances that have evolved over the years, so I'm happy to be here. David Greenberg: That's great. And before we dive in too deep, let's just set the stage. Why don't you describe, based on your experience, the overall architecture of what audit committees do and the role that they play? Pat Condon: Well, the role is oversight of financial reporting and the related internal controls behind all of that, the review of filings, earning releases, et cetera. A major role that's evolved is risk oversight, and we have oversight of the independent auditor. Ethics and compliance taking on a greater role than it probably had years and years ago. Oversight of internal audit, a mission critical role. Interactions with the other committees of the board, as well as the management of the company. And some of the committees these days, there are overlaps and responsibilities, and so that's an important part of the job. And then any kind of external communications that we might do, which is typically in filings with the SEC or otherwise. All of that, by the way, and we're here to talk about culture. And all of that plays a role in company culture, as you can well imagine. Just a simple thing like internal controls, well, culturally is the company weak or strong? So it's a mission critical role, is the assessment of company culture as it relates to these and many other things. David Greenberg: Pat, how have you seen the role of the audit committee and the chair change over the time you've been doing that kind of job? Pat Condon: As I said, it's become much broader in scope than it was originally, and it's also much more overt, in a sense, with things like organizational health. When we look at ethics and compliance, for one. We look at organizational health, workplace violence, employee relations. And you get down to things like what's happening as a result of changes in the workplace? Which there have been over the last two years, as we all know, very significant changes. David Greenberg: You've mentioned culture and ethics a couple times. You and I were both participants in the recent Tapestry-LRN Summits on ethics and culture. Tell us how you think about corporate culture and how that informs what you do as a board member and audit chair? Pat Condon: I think it's a critical role of every board member to do his or her assessment of company culture. Not only while you're a board member, but you think about going onto a board, I think an important part of your deliberations is what does the culture feel like? But to me, it's a very mission critical part of a company's existence. Things like the new workplaces they talk about at the future of work, for example, they are part of an evolving culture which I think we all have to pay pretty close attention to. And while that was changing some over time, I think the pandemic has accelerated the change. We can certainly see that in who's in the office when and who's doing what and how. Introduction of robotics and other things into the workplace, really changing... They call that the future of work, but it's pretty real and it's happening now. David Greenberg: Would you say that from when you started as a board member until now, we've moved to a point where there are more discussions about culture, ethics, and the outside world, than when you began? Pat Condon: I think we talked about it when I began. And again, I spent a lot of time in boardrooms back in my old profession as well, so I can include that. But the volume is much louder now than it was before. There are any number of reasons for that, but you can see it in society as well. And most companies, they do reflect society. To be successful, you better reflect society. And so as things are changing in the world in which we live, they're changing in the boardroom as well. Again, you come back to if you're going to be successful as a company, as a board, et cetera, et cetera, the culture plays such a mission critical role in that for the long term. You can be short term successful with what I'd call less desirable culture, but I don't think you'll last long. David Greenberg: So one of the biggest parts of our audience for this podcast are chief ethics and compliance officers and their teams. As an audit chair, what's your advice to them on how best to build a strong relationship with the audit committee and its chair? Pat Condon: Relate. So, I'm not a shy, retiring wallflower, nor or I think most of... So the key is to talk. And maybe it's me, but... And of course in my capacity, I need to avoid being management. On the other hand, healthy discussions with the officers, including the chief compliance officer, I'm pretty frequent in that. And again, I come back to this two dimensional world we're living in right now. It's much tougher to make some assessments, and therefore my conversations have probably picked up the pace a little bit because of the lack of face-to-face time that we could spend together. Whether it's over dinner or lunch or anything, those are times when you can get a good three dimensional judgment of character, culture, et cetera. David Greenberg: When you think about the chief ethics and compliance officers you've worked with, how's the board view them? Do they have the status of other senior officers, or more importantly, do they have the status they need to be effective? Pat Condon: I can't speak for the world, but I can tell you that my experience right now is yes, without question. The relationship to the C-suite... In fact, sitting in the C-suite is probably a good way to put it. And then the board is very, very, very, very interested in what they report out. And whether it's the results of employee health surveys or anything else, they all play a role in that. And so I would say that... Well, certainly every one of our board meetings, we get a report, and I will have looked at it closely beforehand, had a discussion about it. David Greenberg: Do you have a relationship with the chief compliance officer in between board meetings and committee meetings? Pat Condon: Probably not as much as the internal auditor, but yes, I am not afraid to pick up the phone, and I've certainly told her that if she has any reason whatsoever to call me, to pick up the phone. So it's a good relationship, and I think it needs to be. I mean, it needs be a crystal clear two-way street. David Greenberg: Do you see, for example, good level of cooperation between say internal audit and ethics and compliance, or can you tell from where you sit? Pat Condon: Yes, absolutely. I mean, I think it's, where necessary, there's parts where the roles overlap and become... Collaborative is the wrong way to put it, but each has a role to play. So at least in what I'm observing, yes, there's a relationship and it's a strong one, as well as with the other members of the C-suite. David Greenberg: So, Pat here's what I think is one of the tougher questions for audit chairs and audit committee members. I sit on the audit committee at International Seaways, and the agendas are just crushing in terms of absolutely mandatory, legally required things that have to be done. So my question is can audit committees pay enough attention to corporate ethics, culture, and compliance? And if your experience with that says the answer is yes, talk a little bit about how you've accomplished that. Pat Condon: Well, I try to leverage as best I can all of those things, so I'm pretty active when it comes to pre-meeting material interactions, but we don't have... The agendas are busy, and especially depending on the time of year. But there's a lot of prep that goes into the meeting on both sides, and optimizing the prep certainly helps, as well as making the reports tell the story they need to tell, but do it in a succinct way. And that frankly, is evolving. Whether you're dealing with ERM or compliance, the nature of the way the reporting is going is I would say evolutionary and probably always will be. But the nature of, for example, corporate risk has become much more sophisticated. Part of it's technology, part of it's the work. So you know as well as I and pretty much any other director, how much more education we do these days than we did maybe before. But it's incumbent upon the director, in my view, to keep himself or herself current when it comes to rules, regulations, and the state of the art as it relates to all of those roles. David Greenberg: You said that the reporting in this area and other areas is evolving. Are you feeling like it's becoming more strategic in nature and the board members are getting a deeper sense of what's going on, or not? Pat Condon: I believe so. And again, I think the fact that we all... There aren't many shy, retiring wallflowers at the board level, and so where anybody feels... Sometimes the board, somebody will call me directly and ask about things. But I think everybody's invited to weigh in on the nature of the reporting that's done. And the questions, you can tell by the questions, that the interest level is high in this area. David Greenberg: One of the series of letters that I hear from almost every board member I talk to is are the leters ESG? So how is your board dealing with ESG? Is it an audit committee matter, a full board matter, someplace else? Pat Condon: E, all the above. And from things like... Just take an example: what's reported in the 10K. Typically, that would not have fallen anywhere in the... So sorting out who's going to review it. What, for example, the external auditor might do with some of that. Because the nature of a lot of that reporting is it's things that weren't there before, so all of a sudden it was how do we know that what's going in there is correct? Who's looking at it? So we know that's been parsed out and that it's being done. But part of it is... I come back to what does your company believe its mandate is? So for utilities right now, all of that stuff is incredibly relevant. So whether it's how are we producing every kilowatt hour, whether it's interactions with the regulators, whether it's what's the nature of our workforce, what's the composition? How is it by level of the organization? I mean, we do look at every one of those things. And so I think that at least the companies with which I'm familiar, they had all... Before it became a public mandate, it was evolving in the boardroom anyway. David Greenberg: So you and I have been involved in a bunch of conversations about corporate culture, and particularly how hard it is for boards to get a feel for it and how hard it is for companies to have good measurement and metrics. What's your view on how boards can play a role to focus management's attention on this so that when we talk about culture, we're not just guessing at it, but we have have some measures that can be tracked and management can influence them over time in the right direction? Pat Condon: I think when it comes to the measures, we are at an evolutionary point, because they've been squishy at best historically. I do think that more and more companies are having independent reviews of their culture. Having said that, there's so many different aspects to it. Again, I come back to as a board member, I would take every opportunity I had to, whether it was a corporate lunch, a dinner, and thank goodness the companies with which I've been involved would invite folks who were not part of the C-suite. And in addition to the social part of it, I would do my best to ask and gauge the responses about are we culturally directionally correct? Whether it's safety, employee relations, any number of things that embody culture, that was my way of assessing it. I don't think the metrics are... How would I put this? We have generally accepted accounting principles. I don't think there are any generally accepted ethics principles that you can say that you would... On the other hand, there are companies who do go in and make those cultural assessments. So I think it's evolutionary. I think all you can do is make sure that... And you can listen to the management team and draw your own conclusions about whether culture's important in the C-suite. In my case, fortunately it is, and we do frequently have conversations about culture itself. But you get into things like... And you know this as well as I. When you got a lot of contractors, you can set the ground rules, but they better be reflective of your culture, and you better be prepared to impose disciplines when things evolve in a way other than you would like them to. And most companies do use a lot of contractors, but they can influence culture if you're not careful. And if it's positive, it's great. If it's negative, that's something you really need to look for. David Greenberg: So stepping back a bit and reflecting, how do you see the evolving expectations of stakeholders as it relates to major companies, and what's that mean for boards? Pat Condon: The question is, the first thing is, who are your stakeholders? And I think that's also in an evolution, because corporations are more and more considered, I'll call them citizens, than they might have been before. And so I think the world of ESG, people who might not hold a share of the company still have a reaction, and they can influence you either in your stores or... On the other hand, if you're a necessity, whether if you're a power company or... The stakeholders, the customer side of it's mission critical. So I think the stakeholder evolution, if I can put it that way, is healthy for society, but it's imposing burdens we haven't experienced before. But having said that, I am watching mostly positive reactions to that. Now, it doesn't mean that everybody who says something about your company is going to portray their perspective. They're not necessarily going to be factual in what they have to say. And so there are times when you're out there talking about, maybe indirectly, that message and what's incorrect about it, or just sometimes you got to be direct. How would I put this? Social media's probably created a lot of perspective that didn't exist before, because pretty much anybody can have an expert opinion now, and that's sad, but true. David Greenberg: Yeah. Thinking about all that, what do you think boards need to change to keep up with these evolving expectations? Pat Condon: I think you just got to have your ear to the ground at all times, as well as your hands, and make sure that you're in sync. I think you can look at other companies and what they're doing. Certainly, you need to be in communication with your stakeholders virtually continuously. And evolve as you need to, because just as human nature has evolved, so has the corporate nature, and it will continue to do so. David Greenberg: Pat, have you seen on your boards pressure, expectation, for the CEOs to take a position on social issues and things going on in the outside world? Pat Condon: I think my experience is maybe a fortunate one, but the answer to that is yes, and I believe it's as it should be. And it can be a real strength to a company where you've got a CEO who's not just aware, but is a believer, if I can put it that way. David Greenberg: So, Pat, any closing thoughts you want to leave with our audience about directors, boards, audit committees, how to work with them? Pat Condon: The world of cyber is not going to go away, and it's something we all need to be tuned into. And you see it every day on the news about invasions of your personal space, but the corporate side, it's no different. ESG, mission critical, and I think we just need look to excel in that area. I forget who it was, eternal vigilance is forever the price of freedom, but eternal vigilance is something that you just got to be tuned in. I think the future of work, and we didn't talk about the intergenerational differences as it comes to that, but those are all things that are very, very relevant. And there's lots of things published on it. There's lots of things you can attend on it. But I do think it's something you need to tune into, because the pandemic and the change in the workplace environment, and I continue to add in the introduction, almost the virtual concurrent introduction of robotics in certain parts of the business are really going to change the future of work in a way that we need to stay close to. David Greenberg: Well, I think that's a great place to wrap up for now. Pat, it's been really great having you on the podcast. We thank you and hope you'll come back again, because you certainly outlined a number of issues that are worth talking about. Pat Condon: I'm happy to, and I have to say I enjoyed preparing for this with you, so look forward to doing it again. David Greenberg: That's a wrap. Outro: We hope you enjoyed this episode. The Principled Podcast is brought to you by LRN. At LRN, our mission is to inspire principled performance in global organizations by helping them foster winning ethical cultures, rooted and sustainable values. Please visit us at lrn.com to learn more. And if you enjoyed this episode, subscribe to our podcast on Apple Podcasts, Stitcher, Google Podcasts, or wherever you listen. And don't forget to leave us a review.    

Abstract: How are boards of directors of major companies coping in 2021 with the increasing expectations from so many stakeholders? How are boards equipping themselves to meet the challenge of overseeing large global organizations? In this episode of the Principled Podcast, Marsha Ershaghi Hames, Partner at Tapestry Networks, guest hosts a conversation about the critical role boards play in shaping ethical corporate culture with Don Cornwell, an accomplished corporate leader who currently sits on the boards of AIG, Natura & Company, and Viatris. Listen in as Marsha and Don talk about the importance of intention when making decisions at the board level—especially as it relates to diversity, mentor sponsorship, and professional guidance.   [1:28] Guest Don Cornwell's diverse background and pioneering career journey. [3:25] Where are we now in terms of diversity on Wall Street? [9:22] Where is the U.S. going wrong in terms of maximizing capital and production? [13:12] How can boards and corporate leaders take the first steps to open doors and drive intentional sponsorships while navigating DEI? [21:08] How can boards begin to transform their own culture? [26:09] How boards can take action to cultivate ethical culture given the context of these times.    Additional Resources: Article:  Father and Son Investment Bankers Describe Wall Street Regrets [Subscription required]   Featured guest: Don Cornwell retired as chair and CEO of Granite Broadcasting Corporation in 2009, a company he founded in 1988. Granite developed from an entrepreneurial idea into a diverse company operating 23 channels in nine television markets and became one of the nation's 25 largest television station groups. Previously, Don was employed for 17 years in the Investment Banking Division of Goldman Sachs. While at Goldman Sachs, he was engaged in public and private financing and merger and acquisition transactions for publicly traded and privately-owned companies, with a primary focus on consumer product and media companies. In addition to transaction responsibility, he served as the chief operating officer of the Corporate Finance Department from 1980-1988. Currently, Don serves on the board of directors of AIG, Inc., Natura Holdings, Viatris Inc. and Blue Meridian Partners, Inc. Don is also a trustee of Big Brothers/Big Sisters of NY. At AIG, he is Chair of the Compensation and Management Resources Committee and a member of the Nominating and Corporate Governance Committee. Don served on the boards of Pfizer from 1997 to 2020, Avon from 2002 to 2020, and CVS Caremark Corporation from 1994 until 2007. At Pfizer, he was Chair of the Audit and Regulatory and Compliance Committees and a member of the Nominating and Corporate Governance and Science and Technology Committees. Viatris was created as a public company as a result of a strategic merger of Pfizer's Upjohn business with Mylan Inc. At Avon, he was Lead Director of the board, Chair of the Finance and Strategic Planning Committee and a member of the Nominating and Governance and Audit Committees. Avon was acquired by Natura in 2020. Don previously served on the board of Occidental College, the Advisory Council of Harvard Business School, the MS Hershey School and Trust, the Wallace Foundation, the Edna McConnell Clark Foundation and as Chair of the Board of the Telecommunications Development Fund appointed by the Chairman of the FCC. Don received his BA from Occidental College in 1969 and MBA from Harvard Business School in 1971 and has been honored as Alumnus of the Year by both institutions.   Featured Host:  Marsha is a partner with Tapestry Networks and a leader of our corporate governance practice. She advises non-executive directors, C-suite executives, and in-house counsel on issues related to governance, culture transformation, board leadership, and stakeholder engagement. Prior to joining Tapestry, Marsha was a managing director of strategy and development at LRN, Inc. a global governance, risk and compliance firm. She specialized in the alignment of leaders and organizations for effective corporate governance and organizational culture transformation. Her view is that compliance is no longer merely a legal matter but a strategic and reputational priority.  Marsha has been interviewed and cited by the media including CNBC, CNN, Ethisphere, HR Magazine, Compliance Week, The FCPA Report, Entrepreneur.com, Chief Learning Officer, ATD Talent & Development, Corporate Counsel Magazine, the Society of Corporate Compliance and Ethics and more. She hosted the “PRINCIPLED” Podcast, profiling the stories of some of the top transformational leaders in business. Marsha serves as an expert fellow on USC's Neely Center for Ethical Leadership and Decision Making and on the advisory boards of LMH Strategies, Inc. an integrative supply chain advisory firm and Compliance.ai, a regulatory change management firm. Marsha holds an Ed.D. and MA from Pepperdine University. Her research was on the role of ethical leadership as an enabler of organizational culture change. Her BA is from the University of Southern California. She is a certified compliance and ethics professional.   Transcript: Intro: Welcome to the Principal podcast brought to you by LRN. The principal podcast brings together the collective wisdom on ethics, business and compliance, transformative stories of leadership, and inspiring workplace culture. Listen in to discover valuable strategies from our community of business leaders and workplace change makers. Marsha Ershaghi Hames: How are boards of directors of major companies coping in 2021 with the increasing expectations from so many stakeholders? How are boards equipping themselves to meet the challenge of overseeing large global organizations? Hello, and welcome to another special episode of the Principled podcast, where we continue our conversations about the critical role boards in shaping ethical corporate culture. I'm your guest host, Marsha Ershaghi Hames, a partner at Tapestry Networks. And today, I'm pleased to be joined by Don Cornwell, an accomplished corporate leader who currently sits on the boards of AIG, Natura & Company, and Viatris. Don, thank you for coming on the Principled podcast. Don Cornwell: Marsha, thanks for the invitation. I look forward to our conversation. Marsha Ershaghi Hames: Excellent. So Don, let's share with listeners a little bit. You've had a very unique background from your early career at Goldman Sachs to founding and leading Granite Broadcasting, which at its peak, was the largest African American-controlled television broadcasting con in America. You've continued to lead a distinguished career of service on both corporate and nonprofit boards. Could you tell our listeners just a little bit more about your amazing journey? Don Cornwell: Well, I've done a lot of moving around for a kid who was born in segregated Oklahoma in 1948. My family moved to the Pacific Northwest when I was five, so they could frankly continue their careers as educators. And so I lived in Tacoma, Washington, until I graduated high school in 1965, then left to attend Occidental College in Los Angeles, followed immediately by a move to Boston to attend Harvard Business School. And from there, often New York to join a considerably smaller Goldman Sachs. As you know, I left Goldman Sachs in 1988 after 17 years. I started a business, you've referenced it, Granite Broadcasting Corporation, and we built that for 20 years. And then I left the company and essentially went into so-called retirement, which I've failed at miserably and have continued to serve on corporate boards. You didn't mention, I have to mention, Pfizer and Avon and CVS. I've been very proud of my association with all three of those companies. So I wouldn't want to pass that. Marsha Ershaghi Hames: Well, you mentioned your journey with Goldman Sachs. You had joined their investment banking department in the early '70s. And I actually was reflecting on that fantastic interview with Bloomberg, the profile with you and your son last year. Your story is very pioneering for African Americans working on Wall Street. As you look back on that experience, what are some of your observations on diversity on Wall Street, and essentially the being the only one in the room? Has there really been progress? Don Cornwell: So I did the interview, the Bloomberg interview with my son, because I thought it provided a context of experience by African American professionals over a significant period of time. I started at Goldman Sachs in 1971 and he joined, I should say, after I graduated from Harvard Business School. And he joined Morgan Stanley in 1998 after he graduated from Stanford Business School. I am shameless about promoting the article. So if any of your listeners have an interest, they should check it out. On your question, so I would say the industry is making what I call directionally correct movement. That's a good thing, but I guess I'm at an age in life where I can say that I think the progress is too slow and I think it's not deep enough. And so in making that comment, I can point to some really terrific success stories at various financial firms. And by financial firms, I'm incorporating everything from banks and insurance companies to the typical Wall Street firms that you think about. But in thinking about those success stories, I'm hard pressed to find what I would call an adequate pipeline of aspiring and qualified young professionals available for the succession planning of the future. I've found, in my career, that when you build a pipeline, and that's something that Pfizer talks about a lot, but when you build a pipeline of talent, the issues that we're discussing become somewhat moot. However, when you don't have a pool of talent, you then find yourself scrambling to, and I put quotes around the word "improve," from a very unimpressive baseline. And frankly, in this day and age, that does not go unnoticed by shareholders, and stakeholders, and society. So I guess I would give the industry a mixed grade. I think it's getting better. I think that there's some great success stories that I read about and know about, but much more work to be done. Marsha Ershaghi Hames: Speaking of that, I actually read another article or a derivative article. And I read a quote here that said "Wall Street has a problem with black excellence." And most super successful people on Wall Street are just excellent at what they do and how they got there. However, when someone is excellent as an African American, it is not embraced. How does that sort of land with you or resonate with you? Don Cornwell: Well, it's an interesting observation. I don't know where it comes from. I think I would sort of turn it just a little bit to say that I felt, in my time, that the process of growing in a career, no matter who you are, requires an effect. What I would describe as someone who intentionally wants to see success. So the observation, to be candid that I've made about the financial community, I think, is a problem across industry and the country. I think we simply have not done enough to hire, encourage and retain young people of color, or women, in general industry.  I think that we leave a lot of talent behind. We're getting better, but we leave a lot of talent behind. So when I talk about, I have a theme of being intentional about a success experience, I can certainly say that each and every one of the success stories that get spoken about a lot, people like Ken Chenault that Ken Frazier, just to name a few, and I can name many, many others, that they can point to those moments in their careers where they were given a helping nudge along the way. And so I'm sort of simple minded about it, which is that if people in power want to see success in that regard, they have to be intentional about it. It has to be something that's on their mind. They have to insist on it. And quite frankly, when decisions, tough decisions. Have to be made as to whether somebody's performing or not, they have to be willing and not afraid to call it. Because as I said, everybody isn't going to make the cut, but it's great if people can feel comfortable that they have that opportunity. In the Bloomberg interview, and I hope you don't mind my going on at lengthy here a little bit, but this is one of my favorite topics. I spoke about intentional sponsorship. That's my theme. And I spoke about it in context of senior managers. I read, referenced a fellow that I called my very best boss ever. He has unfortunately passed away. His widow read the interview and called me and was quite amazed at how I felt about this. And I think she understood things that I had said to her over the years about how important he had been to my life and my family's life in terms of my own success. So I always say that during that eight year period, when I had his sponsorship within Goldman Sachs, and by the way, he wasn't necessarily a great guy. I've had people contact me after the interview and say, "Well, he wasn't very nice to me." And so I get that, but I do know that once he asked me to join his team, then I became part of the team and he became my advocate. And that was the best period of my career at Goldman Sachs. And quite frankly, my worst periods were when I didn't have that guidance. I think, and I hope you'll let me go on just a little bit longer, but I think that as a country, we're not maximizing our human capital. We see that every day as we work our way through the pandemic. I mean, think about it. Human capital, with a bit of help from our global partners, came up with multiple ways to stop the coronavirus. Okay. I mean, that's amazing if you think about it. I mean, we're all somewhat concerned these days about the continuation of variants and issues about whether you get a boost, et cetera. But the facts are is that we found a way, in a very, very short period of time, to bring a halt to this really vicious virus. And so that's the wonder. On the other hand, we are also picking up the newspaper and learning that we are short of people to do the most basic jobs, as well as, quite frankly, many of those requiring much more in the way of skills. As a country, I think we've given up on our public education system. It used to be an advantage for us. We spend a lot of time bashing teachers and so forth, and fighting about the curriculum and so forth. We're resisting efforts to train people. We need the labor, but we don't want the cheap labor coming across the border, even though we don't necessarily have the labor to fill many of those jobs. And I'm going to be a little controversial in my next comment, and you guys can edit this out if you want. But I have long said that the country long benefited from structural inequity/ if you think about the quality of teachers we had many, many years ago, when one of the best jobs available to a bright woman or a person of color was as a teacher. And I used my mom as an example, she finished first in her class in college in 1942. There were no corporations or financial institutions on her campus aggressively recruiting, particularly at an HBCU. And so society benefited because you had this class of individuals who were largely directed into a profession that was the best available to them, and we're indebted to them, but that's changing. And without getting into the debate about teachers, and quality, and what have you, that's changing. And that's a debate for another day, but it goes back to my opening comment, which was that we're not spending enough time maximizing human capital. And I think that's a problem. And it ties back to DEI. It ties back to ESG. It ties back to a lot of things that we might talk about. So I'll pause there. I know I'm talking too long. Marsha Ershaghi Hames: No. Yeah. So first of all, Don, I mean, you are touching on some very, very timely issues that, I mean, companies are exploring ways to essentially future proof talent models that clearly we've got an inequity, as you say, of infrastructure and how organizations go to recruit and build their pipeline. So when I sometimes hear the comments of, "There isn't a pipeline," or "We are not able to build a pipeline." Sometimes, I often think, "Where are you looking?" And there are some organizations today that are starting to try to build bridge around skill mobility, bridges into minority serving institutions. You mentioned HBCUs. But to go and to build recruitment pipelines to offer opportunities in other types of fields that may not have been historically or traditionally built into that recruitment infrastructure. So you're really touching on an important point that we probably should set up another conversation to unpack acutely. However, you earlier also mentioned this kind of societal shift that's a lot of pressure from company consumers, and stakeholders, and investors on companies to take more responsibility. And I like how you share your reflection on that intentional sponsorship by this mentor in your life. I am wondering, in the area that you sit today from your vantage point, how can boards, how can corporate leaders take those first steps to, whether it's mentorship programs, or to be more prescriptive or surgical in driving this notion of, "We need to open doors. We need to find ways to design more intentional sponsorship." Are these conversations happening within the board? Because I know, again, this is unique to your story. And I've heard other similar stories where it was that one mentor or sponsor who took them under their wing and just offered the difficult, often difficult guidance, to chart out the path. But how can we do more of that? Because clearly, the pressure's there for companies to take responsibility, but it's the how part, it's the pragmatic. What are the steps to activate that? What are your thoughts on that and what are you hearing or observing from where you sit today? Don Cornwell: So I think every board room where I have the honor of residing, the topics on the table, the topic is one of discussion and there's work being done and reporting out on the topic. So I think it's on the agenda. I'm not sure, from my perspective, whether corporate boards today really recognize that these societal forces that we think about, how powerful those items are for the future, that we get very caught up in a variety of other topics, which are also very, very important. And I'm sure you'll ask me about a few of those at some point here. But I do think that, and to some degree, this kind of gets to one of the notions that I have about the composition of boards, which is the notion that we actually need more people in the room with not only courage to ask tough questions, but also a wider lens in many instances, because I'm not sure that we're really necessarily seeing what's coming at us from a lot of different angles. If I can go back to the comments I made about diversity and inclusion, and a little bit ESG that you had asked about that, I really think these are societal forces that are starting, whether we want it to or not, to drive the corporate board agenda. So just a couple of thoughts. Can you imagine what the board discussions in Facebook are like these days? Or if you've been following Netflix. Could be a more successful company, quite frankly than either of them. All right. I mean, Facebook was founded... My daughter is 36 now, and she's a 2007 graduate of college. And I remember when she was a freshman, she and all of her friends were talking about whether or not they would sign up for Facebook, which had only been started maybe two years before they were to be freshmen. And Facebook's the bad people, there's all kinds of negative things being said about Facebook, but just look at the corporate and business success or Netflix. I mean, my God. How many times did I find the little red envelopes around my house that had never been returned? And talk about a success story. But what are they talking about at those boards? They're talking about all the issues that here on cable television 24/7. At Netflix, you're talking about comedian who has decided to be less than politically correct in the way he talks about things. And so that raises all kinds of challenges about speech and what's appropriate. But then you move from that and you've got, [inaudible 00:16:55] Exxon. My God, what could be more... There it is, Exxon. And you literally have activists find a way with major shareholders to challenge their corporate strategy. And it's front and center around climate and sustainability. What are you doing? And they end up changing out board members. And then there's one that you may or may not have heard of, but I pay a lot of attention because of my history in the broadcast business. It's a company called Tegna, which is essentially the old Gannett company's television station group, which is quite a large group. And they have been under attack for three years by a very, very sophisticated activist shareholder. And his primary focus, his primary focus has been on the treatment of people and particularly the treatment of people of color within the company. And it's been kind of a fascinating thing to watch. The corporate, the board has succeeded in being reelected each year, but the noise gets louder and louder. And at the current time, that activist has now joined forces with one of the major private equity firms and has made it an offer to who buy the company. And so that board is very much under siege. And so I see these forces from society demanding a seat at the table. And quite frankly, these are not the topics that are ever at all candor on the agenda in most instances. You get me started on this, so I apologize, but you think about the tensions that corporations are having to navigate as between national and global interest. Anybody that's doing business in China, those of us who deal with compliance, and risk, and what have you, we spend all of our time thinking about China as a compliance issue. But you've got geopolitical stuff there. I mean, don't go to China and start talking about your great relations in Taiwan. And they've got their views about data privacy. And quite frankly, beyond China, just across the globe, there are views about that. And so that's my way of saying that boards are being forced by the outside world to think about stuff, including the issues... DEI is not just a, "Oh, we got to check that box." Okay. In my opinion, it's part and parcel of so much that's going on out there that boards are having to deal with. Then, of course, we've got to deal with cyber. I mean cyber's going to destroy us if we're not careful. Compliance and ethics is an amazingly significant issue. If you saw yesterday that the whistleblower in the LIBOR scandal is getting a $200 million payout. That's going to motivate a few people. And then I always finally point out, and by the way, we're hopefully coming out of a pandemic and we're going to be worrying about organizational culture, given that most of us have spent two years working remotely, and we got to figure out how to get back together again. So longwinded answer to your question and hopefully a little bit helpful. Marsha Ershaghi Hames: Yeah, no, no, very helpful. And I'm glad you've touched upon what we're witnessing in terms of this societal shift and the increased pressure from investors, regulators, employees, other stakeholders, just the demands on companies to show progress. Business resiliency, environmental climate transaction plans. And then, of course, there's no question in terms of not only human capital. And I don't really like the phrase human capital. Or natural capital sometimes is also on the climate stuff, but it's really our people, our talent and the innovations and the diversity of how they bring ideas to the table, can really transform and create a certain agility to business progressing. And as this is continuing to capture the board and corporate leaders' attention, I like the phrase when you said boards really are starting to get forced to think differently. And I want to unpack that a little bit. So you touched on culture. I want to start with this notion of transforming board culture. And you mentioned earlier having the courage on the agenda to maybe ask more difficult questions. But how can boards, or you have had such a distinguished career, both as an executive and on serving boards. How can boards really start to begin to transform their own culture? Before boards can take the step for oversight of culture within the organization, how do they turn the mirror back and reflect on themselves and take the steps to really help cultivate a transformation within their own board culture? Don Cornwell: Yeah. I'm probably more of a pessimist in all these things than many. And I don't know if that's helpful or unhelpful. My experience has been that crisis tends to drive focus, and we all get very comfortable doing what we do. We do it every meeting, whether it's four meetings a year or 10 meetings a year, whatever the case may be. And then it's when all of a sudden, we get something that comes in, sort of a curve ball that we're forced to try to get smarter. And so my best board experiences have been in situations where there is what I would describe as intentional diversity of voice around the table. And diversity has always thought about it from the context of gender, and ethnicity, and what have you. And I think those are very much part of it, but I also think that diversity of voice in terms of experiences and worldview is just so important. I have found that when you have that... So you have to start with the notion that you are not going to figure it all out, okay? That bad stuff will happen. And so you want to be prepared to react, but then you should spend time, not only trying to figure out the root cause... But I guess I think it was Andrew Grove, the guy who founded Intel. He had a book called Only the Paranoid Survive. And I've always found that to be, at least that my business experience, just so true. That there's a need to constantly scan the horizon, looking for what's coming over the hill, that you could just not imagine. And so I think that best boards are trying to find ways to empower the management teams, to scan the horizon, to think about risk, think about the unimaginable, think about what you do when the unimaginable happens. That's, I guess, my belief about it. I know a lot of people think that a lot of it has to do with the books and records and the control and so forth. And it certainly does, but I will tell you that I can go back and look at scandal after of scandal and crisis after crisis. And you discover that all that stuff that I just described, the books and records and stuff all seemed totally fine until you discovered that something else was going on that was much more difficult. And so I'm a big believer in trying to inject a bit of imagination, creativity, energy, new ideas, new perspectives in the boards. I'm a believer in having boards that have some longevity and some experience. I enjoyed, in my long career on the Pfizer board, ultimately being the one that the new directors would turn to and say, "Don, why did we do that?" Okay. And there was great value to that, but it was also time for me to go. And that I'm pleased to say that one of the people that was recruited in the context, not to replace me, but in the context of my leaving, Scott Gottlieb. Scott and I had gotten each other in a year of overlap, and anybody who's watched television, he's a very, very bright young person. And I just think that people who come to the party with different sorts of experiences can just bring so much to a board. And I urge boards to do that. I think some are trying hard. I think some are still, in my honest opinion, still checking boxes that satisfy the New York Stock Exchange, or some perceived notion of best practices, and not necessarily bringing enough wisdom and perspective to the boardroom table that can hopefully help management as they try to navigate their way through increasingly difficult times. So I'm talking too long. I'm going to stop there. Marsha Ershaghi Hames: No, then you're actually spot on, Don. I mean, when you say "Crisis tends to drive focus," I mean, and clearly you're drawing from, you've served on boards of so many highly regulated industries. You mentioned Pfizer, you've got pharma, you've got finance services and so forth. Tell me, when there is crisis, when there are ethical lapses, what role can boards do, especially in these times with these shifts that we're discussing in society? How can they really take action to cultivate ethical culture in the organization? What are the steps they can take there? Don Cornwell: So I don't want to get too specific, but I lived through one with one of my former boards, where the company ended up making a settlement with the government and writing a very, very large check to compensate for all sorts of perceived and admitted sins. I think that out of that, both management and the company clearly recognized that this had been an issue and that we needed to figure out how to do better. But the focus, which I greatly appreciated, and I had a little bit to do with leading, though lots of others were leading the charge, the focus had to do more with root cause, and how do we get there? What could we do to change? How could we make sure that the organization knew that that certain behavior was not part of what that company wanted to convey to the outside world? So that really became a major investment of time and resources on the part of the company and with regular reporting to the right committees, audit, and regulatory and compliance, and then ultimately, to the board, about just what was being done, not only to prevent a repeat of what had happened, but also to what was being done to make sure that, within the culture, everybody sort of knew what was expected? And to be candid, it was made a lot easier because the CEO was not, in any way, either conflicted or hesitant. Very strong views on the issue. And quite frankly, personally, very embarrassed by what had happened. So that's what I call, what do you do afterwards? And so you deal with it. I mean, we did the usual stuff of figuring out who needed to be appropriately treated, fired, terminated, remediated, what have you. We went through all that. But I think that the bigger learning, I think, for this company, and very much into it as I was leaving the board and I'm very much hoping that that will continue to be the case, was really what I would describe as, "So let's scan the horizon. Let's figure out how to identify the next issues and see if we can get ahead of it." And I mean, they literally formed a... I guess I hate to call it a committee, but I guess it's a committee, that on a regular basis, was effectively reviewing, within this particular part of their business, sales practices and new developments, et cetera, and looking at where there might be issues, my contribution, which I think they followed, was to find the person in their organization that nobody tended to like, who was not afraid to say, "But, sounds good, but..." And to empower them to find ways to reward the person for bringing an independent and a challenging viewpoint. That's hard in organizations. I don't know how well they did with that. I think they did some of it, but the point is that you're trying to be ahead of it. You're trying to recognize that bad stuff happens. That you can talk to the cows come home, but bad stuff happens and it will happen. And people for either evil reasons or innocent reasons sometimes go over the line, go where they shouldn't go. You just have to recognize that that's going to be the case. From a board perspective, I always took the position you have to recognize that. You have to make sure managers know that bad news can be delivered safely, that you're not going to all of a sudden have the hanging party go out because someone came in and told the audit committee that there had been an issue, but that what you really wanted was, "So how do we find this out? What are we doing about it? What do we think the causes were? What can we do better?" And then you go through the checklist. So again, not sure if I responded to your question, but I do think that boards are having to organize themselves around these challenges. And in my opinion, there are no right answers. There's no exact answer to any of it, which is why I always argue that you got to talk about it a lot. You got to recognize that sometimes the agenda of that's laid out isn't necessarily the agenda that you really need to be focusing on, and at least have some discussion about that, so that the person who might have a different idea can feel empowered to bring that idea up. Anyway, I'm going to stop there. Marsha Ershaghi Hames: You're hitting really excellent points. I feel like we could continue this for a good another hour because culture in and of itself, it's so elusive. And to your point, there's the agenda. And then there's the fuzzy noise. And how do we extract that clear focus? And while, so glad you said this, bad stuff happens, it'll continue to happen and crisis continues to unfold. However, I think it's, how do organizations take a step back and try to see, what are the lessons that we can learn? How can we be a little bit more acutely aware to try to identify these signals early? And how do we really foster a culture where management is also comfortable coming in and escalating, or bringing these to our attention sooner? Or what are the challenging questions we can ask of management to try to uncover these issues sooner? So it's sort of a mutual dialogue here, but clearly, Don, this is a conversation we could probably continue to have, but we're reaching the end of our time. And I have learned so much from you. I feel like I was intentionally sponsored today. So many new ideas are sparked in my head. So thank you so much for sharing your time and for joining us on this episode today. And I want to say to our listeners, this was a real special treat. We're just so thrilled to have Don share his reflections and experiences here. And I'm Marsha Ershaghi Hames. With gratitude for tuning in to the Principled podcast from LRN, and I'm going to sign off. Thank you. Outro: We hope you enjoyed this episode. The Principled podcast is brought to you by LRN. At LRN, our mission is to who inspire principled performance in global organizations, by helping them foster winning, ethical cultures rooted in sustainable values. Please visit us at lrn.com to learn more. And if you enjoyed this episode, subscribe to our podcast on Apple Podcasts, Stitcher, Google Podcasts, or wherever you listen. And don't forget to leave us a review.

In this episode, Jeannette speaks to Jacky Simmonds who is at the top of her game in the world of HR having been Group HR Director at the TUI Group with 77,000 people, Chief People Officer at Easyjet, Veon and now Experian.   Jacky shares how she realised that despite leaving school with no A-levels she was just as good as the highly qualified people she was interviewing. Prompting her to further her education and take on executive roles. Jacky shares her experience of blending highly diverse teams, changing company culture and combining parenthood with an executive role. As well as how to attract talent and nurture the people who work for you, so that you get the best out of them.   KEY TAKEAWAYS When you spot talent consider developing a special role for that person. Keep an eye out for people who win awards, get in touch, and interview them. Don´t be afraid to step outside of your comfort zone, get involved in stretch projects. Get a mentor and take advantage of coaching. Make yourself visible to senior management and take on projects that clearly add value. Jacky is by nature an introvert. In the podcast, she explains how she has managed to work around that. Don´t be afraid to make sideways moves to stretch yourself and learn more. Challenge yourself in your personal life too, e.g. run a marathon or something that will push you outside of your comfort zone. Never become aloof from your staff, bear in mind the pressures and challenges of their lives. Think about how you want to bring value to the business and focus on that. Sometimes you just have to really dig deep to get through difficult times in your career. You don't have to be aggressive to get on but having inner steel helps. Always surround yourself with really great people   BEST MOMENTS ‘I realised early on that without that comfort and confidence, of having an education, I might hold myself back’ ‘If you can get coaching and mentoring, I would take it´ ‘A good education gives you choices’ ‘Don't be afraid to voice your opinion’   VALUABLE RESOURCES Brave, Bold, Brilliant podcast series Lean In: Women, Work, and the Will to Lead   ABOUT THE HOST Jeannette Linfoot is a highly regarded senior executive, property investor, board advisor, and business mentor with over 25 years of global professional business experience across the travel, leisure, hospitality, and property sectors. Having bought, ran, and sold businesses all over the world, Jeannette now has a portfolio of her own businesses and also advises and mentors other business leaders to drive forward their strategies as well as their own personal development.   Jeannette is a down to earth leader, a passionate champion for diversity & inclusion, and a huge advocate of nurturing talent so every person can unleash their full potential and live their dreams.    CONTACT METHOD https://www.jeannettelinfootassociates.com/ YOUTUBE LinkedIn Facebook Instagram   ABOUT THE GUEST Jacky Simmonds joined Experian in July 2020 as Chief People Officer. She is responsible for the Global HR Strategy across the Group including Board and executive remuneration, reward strategy, succession planning, talent management and organisational design. Jacky has deep experience across all aspects of HR, but with particular expertise in employee engagement, transformational change, employee relations and talent management.  Prior to joining Experian she was Chief People Officer for VEON, a global connectivity and digital services provider listed on Nasdaq and Euronext. She has also held the role of Chief HR Officer for easyJet plc and TUI Travel Group. She has a Masters degree in Human Resource Management from the University of Westminster and a Bachelor of Arts in Modern European Studies from the Nottingham Trent University. Jacky is a non-executive director of Ferguson plc, where she chairs the Remuneration Committee and is a member of the Nominations and Audit Committees.   CONTACT METHOD linkedin.com/in/jacky-morrissey-simmonds-2980414 simmondsjacky@aol.com   PODCAST DESCRIPTION Jeannette Linfoot talks to incredible people about their experiences of being Brave, Bold & Brilliant, which have allowed them to unleash their full potential in business, their careers, and life in general. From the boardroom tables of ‘big’ international business to the dining room tables of entrepreneurial start-ups, how to overcome challenges, embrace opportunities and take risks, whilst staying ‘true’ to yourself is the order of the day. See omnystudio.com/listener for privacy information.

Brian Whisler is a long-time white collar practitioner at Baker McKenzie.  Brian joined me to discuss the new Biden Administration and the enforcement outlook from the Biden Department of Justice.  Brian has a unique perspective since he served as part of the DOJ transition in 2001 for the incoming Bush Administration. Brian has been a partner at Baker McKenzie for 12 years.  Prior to joining Baker McKenzie, Brian served for fifteen years as a federal prosecutor with the US Department of Justice. During that time, he was the Criminal Chief Assistant US Attorney in the Eastern District of Virginia, Richmond, overseeing and prosecuting cases ranging from white collar crime, violent crime, public corruption, and terrorism. His trial practice focused predominantly on white collar cases, including health care fraud, securities fraud, public corruption, money laundering and tax fraud. He previously served as an Assistant US Attorney for the Western District of North Carolina for ten years, where he focused on white collar prosecutions and received the Attorney General’s Award for his prosecutions in a money laundering investigation resulting in convictions of more than 25 defendants after three jury trials and multiple guilty pleas. Brian has extensive federal trial and appellate experience, having tried over 30 cases to verdict and argued more than 40 cases at the federal appellate level. He is experienced in handling a broad range of civil and criminal matters, including cases implicating the Foreign Corrupt Practices Act, False Claims Act, Anti-Money Laundering laws, Health Care Fraud, Securities Fraud, and Procurement Fraud. Brian has led multijurisdictional internal investigations and provided regulatory advice to multinational and domestic clients across many sectors, including oil and gas services, pharmaceuticals, financial services, manufacturing, and telecommunications. Additionally, he has developed compliance programs for Fortune 50 corporate clients, advised Boards and Audit Committees, guided companies and individuals in government investigations in multiple global jurisdictions and defended clients in criminal and civil litigation. He also represents companies and individual clients in investigations before multilateral institutions, including the World Bank, Asian Development Bank, the Inter-American Development Bank, as well as the US Agency for International Development, the United Nations, and the Global Fund.

Join BDO's Center for Corporate Governance Amy Rojik and Paula Hamric and Meghan Depp of BDO’s National SEC Practice office as they discuss the financial reporting and accounting considerations that audit committees and boards need to understand when contemplating special purpose acquisition company (SPAC) transactions.

Join BDO in discussion with Erin Dwyer, Deputy Director & Stakeholder Liaison at Public Company Accounting Oversight Board (PCAOB).

Many companies have an investigation protocol in place when a potential compliance violation or other legal issue arises. However, many Boards of Directors do not have the same rigor when it comes to an investigation, which should be conducted or led by the Board itself. The consequences of this lack of foresight can be problematic, because if a Board does handle an investigation right, the consequences to the company, its reputation and value can be quite severe. The SEC considers a variety of factors around corporate investigations including: Did management, the board or committees consisting solely of outside directors oversee the review? Did company employees or outside persons perform the review? If outside persons, have they done other work for the company? There is also a SOX role in internal investigations, most particularly for audit. Section 301 establishes certain requirements for Audit Committees, including: (1) Procedures for receipt, retention, and treatment of complaints received by the issuer regarding accounting, internal accounting controls, or auditing matters; (2) Procedures regarding the confidential, anonymous submission by employees of the issuer of concerns regarding questionable accounting or auditing matters; (3) Authority to engage independent counsel and other advisers, as it determines necessary to carry out its duties; and (4) Funding to engage advisors as it deems appropriate. Three key takeaways: The Board should have a written protocol for investigations prepared in advance. Any Board led investigation must be both credible and objective. The investigation must be thorough but the Board can be cost effective.

Cyber Security is one of the hottest fields around. Do you have a kid who loves to game? Often young adults do not draw the correlation between this and the cyber field. We have one of the best Cyber Security experts in the field with us today! David Neuman is the Global Chief Information Security Officer for iHeartMedia, Inc., a $6 billion enterprise that includes iHeartMedia and Clear Channel Outdoor. As Global CISO, Neuman is responsible for all aspects of information security and governance, risk, and compliance for iHeartMedia's businesses, working closely with all divisions to ensure the protection of its multiplatform assets. Before joining iHeartMedia, he served as the Vice President & Chief Information Security Officer at Rackspace. He was responsible for global information security and cyber defense operations, strategic business alignment, and governance, risk, and compliance to protect the Rackspace $2.5 billion enterprise. David was an Executive Director and COO for EY’s Americas Cyber Security Practice. He operationalized four sub-competencies and developed a five-year growth plan to meet $500 million growth ambitions. He also advised Audit Committees, C-suites, and operational leaders of Fortune 500 companies on the cyber threat landscape and modern protection methods for business and technology resiliency. David served in the United States Air Force for 28 years where he commanded the Air Force’s first cyber hunting unit defending key Department of Defense operations against nation-state attack and exploitation. He holds an M.A. degree in National Security and Strategic Studies from Naval War College, an M.S. degree in Security Administration from Bellevue University, and a B.S. degree in Computer Studies from the University of Maryland University College. He is also a Certified Information Systems Security Professional. Learn more about your ad choices. Visit megaphone.fm/adchoices

The audit committee is one of the busiest committees on the board and has a wide range of responsibilities beyond financial reporting oversight. So, as listeners prepare for year-end audit committee conversations, host Heather Horn talks to PwC’s governance leader, Paula Loop, about the role of the audit committee and how management can help facilitate their oversight responsibilities. Topics include:0:22 - Overview. Paula provides insights into the broad range of topics that keep audit committees busy.2:57 - The audit committee players. To meet the long list of responsibilities, the audit committee must possess a wide breadth of experience. Paula discusses the composition of effective audit committees.7:18 - Meeting effectiveness. Here’s where management teams and auditors can help. Paula gives practical tips for how to prepare more effective and efficient meeting materials.10:41 - Key issues. How does the audit committee stay on top of its many agenda items? Paula explains.14:15 - New topics. Heather and Paula discuss trending areas that may be moving higher on the committee’s priority list.About our guestPaula Loop is the leader for PwC's Governance Insights Center, dedicated to helping directors meet the challenges of their critical roles. Previously she served as PwC's NY Metro Regional Assurance Leader, leading one of PwC's largest assurance practices. Paula has served clients almost exclusively in the retail and consumer products industry, serving several multinational companies, employing her significant experience in dealing with operational, technical accounting, and SEC/financial reporting matters. About our hostHeather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

Will robots replace accountants? Listen and learn the changes in store for the accounting profession as host Damien Martin sits down with guest Eric Hansen—chair of the AICPA Board of Directors and chief operating officer at BKD—to discuss the profession, leadership and integrating life inside and outside the office. TIME STAMPS OF WHAT'S COVERED Giving Back to the Profession & Growing in Leadership [ 02:31 ] How Eric came to give back to the profession and serve as chair of the AICPA Board of Directors [ 04:12 ] What it's like to serve as chair [ 05:24 ] Eric's mindset for leadership success in the accounting profession [ 06:56 ] How Eric found his personal niche [ 08:37 ] Advice for achieving goals The Future of Accounting [ 10:29 ] Insights from recent AICPA Governing Council meetings [ 11:37 ] A threat to the CPA license [ 15:00 ] Upcoming changes for the accounting profession [ 16:21 ] The skill sets necessary for success depend on your career stage [ 20:11 ] How leaders can successfully navigate the change ahead [ 21:20 ] It's an exciting time for the accounting profession Life Outside the Office [ 23:59 ] Eric's approach to work-life balance [ 26:17 ] Balancing professional and personal responsibilities [ 28:01 ] Parenting advice [ 29:58 ] What Eric loves to do outside the office [ 32:04 ] Live outside your comfort zone! BIO FOR GUEST Eric Hansen serves as chief operating officer of BKD CPAs & Advisors and chairman of the AICPA Board of Directors. He has been an active volunteer with the AICPA, including serving as chair of the Finance Committee and a member of the Compensation and Audit Committees. Eric was part of the AICPA Future of Learning Task Force and served as a member of AICPA Major Firms Group. He has been a member of the AICPA Board of Directors and Governing Council. Eric also participates in various trade organizations and has served in a variety of leadership and teaching positions. Follow Eric on Twitter Connect with Eric on LinkedIn ADDITIONAL RESOURCES More about Eric: "We Have to Be Bold" (Journal of Accountancy) Learn more about the AICPA: AICPA website AICPA membership Learn more about BKD BKD website What's Your Next Play?  GET MORE “SIMPLY TAX” We're excited to now also provide video content to strengthen your tax mind! Check it out on our new YouTube channel. A complete archive of our episodes is available on our website and YouTube playlist. We'd love to hear from you! Email feedback and questions to SimplyTax@bkd.com. Connect with Damien on social media! LinkedIn | Twitter | Instagram

Will robots replace accountants? Listen and learn the changes in store for the accounting profession as host Damien Martin sits down with guest Eric Hansen—chair of the AICPA Board of Directors and chief operating officer at BKD—to discuss the profession, leadership and integrating life inside and outside the office. TIME STAMPS OF WHAT’S COVERED Giving Back to the Profession & Growing in Leadership [ 02:31 ] How Eric came to give back to the profession and serve as chair of the AICPA Board of Directors [ 04:12 ] What it’s like to serve as chair [ 05:24 ] Eric’s mindset for leadership success in the accounting profession [ 06:56 ] How Eric found his personal niche [ 08:37 ] Advice for achieving goals The Future of Accounting [ 10:29 ] Insights from recent AICPA Governing Council meetings [ 11:37 ] A threat to the CPA license [ 15:00 ] Upcoming changes for the accounting profession [ 16:21 ] The skill sets necessary for success depend on your career stage [ 20:11 ] How leaders can successfully navigate the change ahead [ 21:20 ] It’s an exciting time for the accounting profession Life Outside the Office [ 23:59 ] Eric’s approach to work-life balance [ 26:17 ] Balancing professional and personal responsibilities [ 28:01 ] Parenting advice [ 29:58 ] What Eric loves to do outside the office [ 32:04 ] Live outside your comfort zone! BIO FOR GUEST Eric Hansen serves as chief operating officer of BKD CPAs & Advisors and chairman of the AICPA Board of Directors. He has been an active volunteer with the AICPA, including serving as chair of the Finance Committee and a member of the Compensation and Audit Committees. Eric was part of the AICPA Future of Learning Task Force and served as a member of AICPA Major Firms Group. He has been a member of the AICPA Board of Directors and Governing Council. Eric also participates in various trade organizations and has served in a variety of leadership and teaching positions. Follow Eric on Twitter Connect with Eric on LinkedIn ADDITIONAL RESOURCES More about Eric: "We Have to Be Bold" (Journal of Accountancy) Learn more about the AICPA: AICPA website AICPA membership Learn more about BKD BKD website What's Your Next Play?  GET MORE “SIMPLY TAX” We’re excited to now also provide video content to strengthen your tax mind! Check it out on our new YouTube channel. A complete archive of our episodes is available on our website and YouTube playlist. We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com. Connect with Damien on social media! LinkedIn | Twitter | Instagram

Brexit is not just an issue for UK companies. If you have any exposure – direct or indirect – to the UK, then your supply chain, your customer demand, your taxes, tariffs or financing may be affected... In this podcast, Tim Copnell, Pamela Taylor and Irina Ipatova discuss what Brexit means or could mean for the annual report. 'IFRS' is a registered trademark of the IFRS Foundation and is used by KPMG IFRG Limited under licence subject to the terms and conditions contained therein. Please contact the IFRS Foundation for details of countries where its trademarks are in use and/or have been registered.

Jenna Fisher is the Global Corporate Officers Sector Leader of Russell Reynolds Associates. Jenna Fisher leads the Corporate Officers Sector globally and specializes in leading senior financial officer assignments, serving clients across various sectors, including the technology, consumer, healthcare and retail industries. Jenna's clients include Fortune 1000 corporations, middle-market private equity portfolio companies, as well as highly visible, pre-public venture capital-backed enterprises. The majority of her work over the past ten years has been recruiting CFOs, although she has conducted numerous assignments for treasurers, controllers, internal audit executives and division chief financial officers. Jenna is also involved at the board level, recruiting financial experts to serve on Audit Committees. She is based in San Francisco.Aired April 25, 2018 See acast.com/privacy for privacy and opt-out information.

Jenna Fisher is Global Corporate Officers Sector Leader for the executive search firm Russell Reynolds Associates and she was a student in Stew’s Total Leadership class at Wharton about 15 years ago. Jenna specializes in leading senior financial officer assignments, serving clients across various sectors, including the technology, consumer, healthcare and retail industries. Her clients include Fortune 1000 corporations, middle-market private equity portfolio companies, as well as highly visible, pre-public venture capital-backed enterprises. The majority of her work over the past ten years has been recruiting CFOs, although she has conducted numerous assignments for treasurers, controllers, internal audit executives and division chief financial officers. Jenna is also involved at the board level, recruiting financial experts to serve on Audit Committees. She is based in San Francisco. Stew and Jenna talk about what an executive search consultant does and about how to conduct a successful job search by leveraging your network, knowing what you are truly looking for in your career, finding your distinctive gift and being excellent at it, and bringing your family into your career decision-making. See acast.com/privacy for privacy and opt-out information.

Many companies have an investigation protocol in place when a potential Foreign Corruption Practices Act (FCPA) or other legal issue arises? However, many Boards of Directors do not have the same rigor when it comes to an investigation, which should be conducted or led by the Board itself. The consequences of this lack of foresight can be problematic, because if a Board of Directors does not get an investigation which it handles right, the consequences to the company, its reputation and value can all be quite severe. The SEC considers a variety of factors around corporate investigations including: Did management, the board or committees consisting solely of outside directors oversee the review? Did company employees or outside persons perform the review? If outside persons, have they done other work for the company? There is also role of the Sarbanes-Oxley Act (SOX) in internal investigations, most particularly for audit committees. Section 301 establishes certain requirements for Audit Committees, including: (1) Procedures for receipt, retention, and treatment of complaints received by the issuer regarding accounting, internal accounting controls, or auditing matters; (2) Procedures regarding the confidential, anonymous submission by employees of the issuer of concerns regarding questionable accounting or auditing matters; (3) Authority to engage independent counsel and other advisers, as it determines necessary to carry out its duties; and (4) Funding to engage advisors as it deems appropriate.  In an article in the Corporate Board magazine, entitled “Successful Board Investigations” by David Bayless and Tammy Albarrán, partners in the law firm of Covington & Burling LLP write about five key goals that any investigation led by a Board of Directors must meet. They are:  Thoroughness - The authors believe that one of the key, and most critical, questions that any regulator might pose is just how thorough is an investigation; to test whether they can rely on the facts discovered without hav­ing to repeat the investigation themselves. Regulators tend to be skeptical of investigations where limits are placed (expressly or otherwise) on the investigators, in terms of what is investigated, or how the investigation is conducted. This question can be an initial deal-killer particularly if the regulator involved views an investigation insuf­ficiently thorough, its credibility is undermined. And, of course, it can lead to the dreaded ‘Where else’ question. Objectivity - Here the authors write that any “investigation must follow the facts wherever they lead, regardless of the conse­quences. This includes how the findings may impact senior management or other company employees. An investigation seen as lacking objectivity will be viewed by outsiders as inadequate or deficient.” I would add that in addition to the objectivity requirement in the investigation, the same must be had with the investigators themselves. If a company uses its regular outside counsel, it may be viewed with some askance, particularly if the client is a high volume client of the law firm involved, either in dollar amounts or in number of matters handled by the firm. Accuracy - As in any part of a best practices anti-corruption compliance program, the three most important things are Document, Document and Document. This means that the factual findings of an investiga­tion must be well supported. For if the developed facts are not well supported, the authors believe that the investigation is “open to collateral attack by skeptical prosecutors and regulators. If that happens, the time and money spent on the internal investigation will have been wasted, because the government will end up conducting its own investigation of the same issues.” This is never good and your company may well lose what little credibility and good will that it may have engendered by self-reporting or self-investigating. Timeliness - Certainly in the world of FCPA enforcement, an internal investigation should be done quickly. This has become even more necessary with the tight deadlines set under the Dodd-Frank Act Whistleblower provisions. But there are other considerations for a public company such as an impending Securities and Exchange Commission (SEC) quarterly or annual report that may need to be deferred absent as a timely resolution of the matter. Lastly, the Department of Justice (DOJ) or SEC may view delaying an investigation as simply a part of document spoliation. So timeliness is crucial. Credibility - One of the realities of any FCPA investigation is that a Board of Directors led investigation is reviewed after the fact by not only skeptical third parties but also sometimes years after the initial events and investigation. So not only is there the opportunity for Monday-Morning Quarterbacking but quite a bit of post event analysis. So the authors believe that any Board of Directors led investigation “must be (and must be perceived as) credible as to what was done, how it was done, and who did it. Otherwise, the board’s work will have been for naught.”  Dan Chapman, Chief Compliance Officer at Vimpelcom, has said this is the time for a very frank conversation with your Board about what such an investigation will entail. Costs must be adequately discussed to set proper expectations. These include both direct costs and, what Chapman believes may be even more important, a discussion of indirect costs to the company. He noted that “the biggest cost to a company during an investigation is the diversion of management resources” and, as he further explained, “kind of everything stops to focus on the investigation.” This indirect cost comes through largely the time commitment of senior management. He further explained, “if senior management has to commit 20% of their time, that’s 20% that’s not going towards revenue generating, shareholder value protecting activities.”  Finally Jonathan Marks, a partner at Marcum LLC has noted after notification of serious allegations, Boards should take the following steps: Consider creating a Special Committee to conduct the investigation; Establish a committee charter; Preserve the electronic and hardcopy documentation environment; Communicate with external auditors; and Plan potential communication with the SEC, DOJ, and the relevant stock exchange.  Marks also notes that while a special committee might be necessary in certain rare circumstances, the board should try to avoid forming a special investigative committee to oversee the investigation if its audit committee is composed of independent and disinterested directors that are suited for the task. A special committee must be disbanded at some point (usually once the investigation is completed and before the restatement process begins), and the disbanding could become a complicated news item.  Conversely, if the audit committee oversees the investigation, then, once the investigation is complete, the audit committee can pivot back to its normal role, which would include overseeing the actual restatement process. Investigations overseen by the audit committee also benefit from the positive relationship that the audit committee chair usually has with the audit partner of the company’s external auditor.   Three Key Takeaways The Board should have a written protocol for investigations prepared in advance. Any Board led investigation must be both credible and objective. The investigation must be thorough but the Board can be cost effective.     Learn more about your ad choices. Visit megaphone.fm/adchoices

One of the areas many companies do not focus on enough is possible corruption in their Supply Chain (SC) for goods and services provided on a company’s behalf. The FCPA risks can be just as great through those entry points as it can be through the sales side of an organization. You need to know who your company is doing business with through the SC as much as you need to know your agents seeking business opportunities on your behalf.  As most companies have exponentially more vendors than sales agents, this task may seem daunting. However a well thought plan to risk rank your company’s third parties on the SC side can go a long way towards ameliorating this issue. The key is to set reasonable parameters and then management those third parties which present true corruption risk to your organization. This determination of the level of due diligence and categorization of a supplier should depend on a variety of factors, including, such factors as whether the supplier is (1) located, or will operate, in a high risk country; (2) associated, or recommended or required by, a government official; (3) currently under corruption investigation, or has been recently convicted of any form of corruption; (4) a multinational publicly traded corporation with a recognized exemplary system of compliance and internal controls; or (5) a provider of widely available services and products that are not industry specific. You should note that any supplier, which has foreign government touch points, should move up into a higher level of scrutiny.  My suggestion is that you create a three-tiered matrix for SC risks, with the three levels consisting of (1) High-Risk Suppliers, (2) Low-Risk Suppliers, and (3) Minimal Risk Suppliers. Below this final category is another category for providers of goods which are commonly available and pose almost no corruption risk.  A High-Risk Supplier presents a higher level of compliance risk because of the presence one or more of the following factors: (a) It is based or operates in a country that poses a high risk for corruption, money laundering, or commercial bribery; (b) It supplies goods or services to a company from a high-risk country; (c) It has a reputation in the business community for questionable business practices or ethics; or (d) It has been convicted of, or is alleged to have been involved in, illegal conduct. Other factors you may wish to consider include some or all of the following: (1) the Supplier is located in a country that has inadequate regulatory oversight of its activities; (2) the Supplier is in an unregulated business; (3) the Supplier’s ultimate or beneficial ownership is difficult to determine; (4) your company has an annual spend of more than $100,000 with the supplier; (5) the Supplier was established or registered in a jurisdiction where ownership is not transparent or that permits ownership in the form of bearer shares; (6) the Supplier is registered or conducts business in a jurisdiction that does not have anti-corruption, anti-money laundering (AML) and anti-terrorism laws comparable to those of the US and UK; or (7) the Supplier lacks a discernable and substantial business history.  A Low-Risk Supplier is an individual or a non-publicly held entity that conducts business in a Low-Risk Country. Some indicia include that it (1) supplies goods, equipment or services directly to a company in a Low-Risk Country; (2) a company has an annual spend of less than $1,000,000 with the supplier; and (3) the supplier is not involvement with any foreign government, government entity, or Government Official. However, if the supplier has other indicia of lower risk such that it is a publicly-held company, it may be considered a Low-Risk Supplier because it is subject to the highest disclosure and auditing and reporting standards such as those under FCPA or similar law.   Below the high and low risk categories I would add two other categories of suppliers that present very low compliance risks. The first is ‘Minimal-Risk Suppliers’ which generally provide to a company goods and services that are non-specific to a particular project and the value of the transaction is USD $25,000 or less. Some examples might be for the routine purchase of fungible items and services, including, among others: Office supplies, such as paper, furniture, computers, copiers, and printers; Industrial or factory supplies, including cleaning materials, solvents, safety clothing and off-the-shelf equipment and parts; Crating and other standard materials for packing products for shipping; Leasing and rental of company cars and other equipment; and Airline or other travel tickets or services. It may also include legal services from professional firms that are approved and overseen by a company’s Legal Department; Investigative services from professional firms that are approved and overseen by a Legal Department and that do not interact with government agencies on behalf of a company; and Accounting and financial services from professional firms that are approved and overseen by a company Finance Department or Audit Committees and that do not interact with government agencies on behalf of a company.  Finally, are the category of third parties that provide widely available services and products, ‘Common Product and Services’, that are not industry specific, are offered to the public at large and do not fall under the definition of Minimal-Risk Supplier. These include, among others, wide circulation newspapers, magazines, florists, daily limousine and taxi, airline and food delivery (including coffee shops, pizza parlors and take out) services. These third parties raise even less than Minimal Risk to a company, especially when their services and products are provided in a non-high risk country. Suppliers in this category require no FCPA due diligence.  You need to risk rank your third parties which your company might engage through your SC for FCPA exposure. It should be based on your company’s experience and risk going forward. As with all other third party risk management issues, you must document, document, document.  Three Key Takeaways Risk rank you supply chain based well-conceived strata. Consider not only the compliance risk but also your business risk. Only manage those suppliers which present a corruption risk.  This month’s podcast series is sponsored by Opus. Opus helps free your business from the complexity and uncertainty of managing the risks associated with your customers, vendors, and third parties. By combining the most innovative Third-Party Risk Management and Know Your Customer Compliance SaaS platforms with unparalleled data solutions, Opus turns information into action so your business can thrive. Opus solutions include Hiperos 3PM accelerator, the leading platform for third party risk management. To learn more, go to www.opus.com.           Learn more about your ad choices. Visit megaphone.fm/adchoices

October 8, 2010 "The Changing World of Securities Regulation" Panel 3 - "Secondary Players and Gate Keepers" George Leet Business Law Symposium Center for Business Law & Regulation Case Western Reserve University School of Law Moderator: John M. Saganich, Partner, Vorys Sater Seymour and Pease "Credit Rating Agencies" Professor Roberta Romano, Yale University "The Broker as Fiduciary" Donald C. Langevoort, Thomas Aquinas Reynolds Professor of Law; Co-Director, Joint Degree in Law and Business Administration, Georgetown University Law Center "The Responsibilities of Auditors and Audit Committees" Professor Mark Taylor, Weatherhead School of Management Case Western Reserve University Summary: The George A. Leet Business Law Symposium Endowment was established in 1999 to provide a national forum on business law at Case Western Reserve University School of Law. The symposium, which is held in alternate years, generates knowledge for our students as well as scholars, lawyers, and business people across the country. George Leet was a dedicated and generous supporter of the University for many years. A graduate of Adelbert College (1940) and Case Western Reserve University School of Law (1946), he spent almost his entire career with the National Labor Relations Board, first as attorney-advisor to a board member, then as assistant executive secretary (1953), associate executive secretary (1961), and senior associate executive secretary (1972). He retired in 1980. In 1998, Mr. Leet received the University's Newton D. Baker Distinguished Alumni Award for exceptionally meritorious service to Case Western Reserve University. He was a founding member and a past president of the Washington, D.C. alumni chapter, was inducted into the law school's Society of Benchers in 1989, and served as a longtime member of the Law Alumni Association Board.

This presentation explains the potential benefits and costs of having 'busy' directors who sit on multiple corporate boards. It particularly covers research involving interlocked directors association with a common audit firm. DataBlitz on Corporate Governance was held on 19 July 2013.

Key Year-end Questions for Audit Committees, Catherine Bromilow, Partner, PwC, TK Kerstetter, President, Corporate Board Member

Ben Hobbs shows why churches need finance committees.

Joe Herbers, Managing Principal at Pinnacle Actuarial Resources, explains the critical questions that audit committee members of the Board of Directors should ask their actuary.