Guide to NonProfit Corporate Governance in the Wake of Sarbanes-Oxley

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Author: ABA Coordinating Committee on Nonprofit Governanc

ISBN-10: 1590315677

ISBN-13: 9781590315675

Category: Auditing

This guidebook provides a complete overview of the major reforms enacted or triggered by the Sarbanes-Oxley Act, including governace reforms promulgated by the SEC and the Stock Exchanges.

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This guidebook provides a complete overview of the major reforms enacted or triggered by the Sarbanes-Oxley Act, including governace reforms promulgated by the SEC and the Stock Exchanges.

Pt. IHow Sarbanes-Oxley impacts the governance of profit and nonprofit entitiesACorporate governance reforms for public companies1BApplicability to nonprofit organizations2CPurpose of the guidebook2DScope of the guidebook3Pt. IISarbanes-Oxley Act and related reformsACorporate governance and related reforms directly enacted by Sarbanes-Oxley5BReforms mandated by Sarbanes-Oxley and implemented by other regulatory bodies12CCorporate governance reforms not mandated by Sarbanes-Oxley but required by New York Stock Exchange13DKey corporate governance principles of the Sarbanes-Oxley reforms for consideration by nonprofit organizations17Pt. IIIApplying Sarbanes-Oxley governance principles to nonprofit organizationsPrinciple 1Role of the board19Principle 2Importance of independent directors23Principle 3Audit committee28Principle 4Governance/nominating committees34Principle 5Compensation committee35Principle 6Disclosure and integrity of institutional information37Principle 7Ethics and business conduct codes41Principle 8Executive and director compensation42Principle 9Monitoring compliance and investigating complaints45Principle 10Document destruction and retention47Pt. IVConclusion