Corporate reform is upon us – demanded by regulators, shareholders and also stakeholders.
Due to the recent events of corporate scandals, the turmoil spurs corrections to the system – this is good – it is (the correction) part of what makes us tick – and ultimately become stronger as people and as a country.
All this leads to other correction opportunities while we are at it.
Corporate reform and accountability by the (new) independent directors of companies should also audit for safety, health and environmental regulations and issues.
The same level of board oversight on SEC (Securities & Exchange Commission) compliance issues should apply to OSHA and EPA compliances.
Companies that are “clean” have nothing to fear – and they are fortunately in the vast majority. Less than 5% need worry – but all need to literally address these issues and/or “clean up their act” – and why not now? It makes business sense add safety, health and environmental compliance accountability to other corporate reforms as in accounting measures.
Certainly, if we can not make it law yet, it must be included as the new ethics, the credibility and the new culture that is passed down and communicated – the badge of honor of corporate life – worldwide.
Think about it.
George Hayward