Being Alert To The Risk Of Financial Distress – And Prepared To Take Prompt Action To Address It – Is A Key Responsibility Of Every Organization's Board Of Directors. However, Financial Distress Is Often Identified Late In The Game.
Financial Distress – The Board's Role, A New Report From Osler And The Institute Of Corporate Directors, Offers Valuable Insight Into How Boards Can Equip Themselves With The Information They Need To Anticipate Financial Distress Before It Happens And Provides Guidance On How They Can Better Discharge Their Oversight Responsibilities.
Based On A Recent Survey Of Board Directors And A Roundtable Discussion, The Report Identifies Potential Gaps In Board Oversight Practices, And Offers Specific Recommendations On How Those Gaps Can Be Addressed.
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