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New ACDS research shows majority of directors believe the costs to companies of increased legislative, regulatory and enforcement initiatives exceed potential benefits
NEW YORK, Sept. 18, 2013 /PRNewswire/ -- Many directors believe recent regulatory and enforcement initiatives have failed to achieve increased investor protections, improve public trust in the corporate sector, or enhance transparency to stakeholders, according to new data from PwC US's 2013 Annual Corporate Directors Survey.
In today's release, PwC provides an inside look at key issues and board insights surrounding the areas of the regulatory and governance environment, as well as strategy and risk management oversight. A total of 934 public company directors responded to the survey in the summer of 2013, of which 70% serve on the boards of companies with more than $1 billion in annual revenue.
"Directors surveyed expressed concerns about the efficacy of recent regulatory and enforcement initiatives, many saying that such initiatives fail to achieve increased investor protections, public trust and transparency," said Mary Ann Cloyd, Leader of PwC's Center for Board Governance. "And with respect to their strategy and risk management oversight roles, we continue to see boards evolve and adjust to meet the demands of today's corporate governance world."
Key survey findings include:
For more information on 2013 survey findings for strategy, risk management and regulatory and governance environment; and to download a copy of PwC US's complete 2013 survey results, please visit: http://www.pwc.com/us/directorssurvey.
In addition, 2013 survey data on board composition, structure and performance is available here; data specific to IT oversight is available here; and 2013 survey data about stakeholder communications and executive compensation is available here and here, respectively.
About PwC's Center for Board Governance
PwC's Center for Board Governance is a leading resource for directors. By promoting leading governance practices, the Center advances excellence in the boardroom and is dedicated to better enabling boards and audit committees to perform their important roles. To provide timely updates to board members, the Center publishes the Annual Corporate Directors Survey, monthly BoardroomDirect, and offers forums for directors to discuss current issues.
For more information, please visit http://www.pwc.com/US/CenterForBoardGovernance.
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