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According to a new study by the accounting and business advisory firm Eisner LLP, two thirds of board members are worried about maintaining compliance with new regulations from the SEC and the Financial Accounting Standards Board.  In the study of more than 100 board members, the SEC?s new proxy rules are front and center in their minds as the new rules require public companies to disclose more information about board members? qualifications.  Accordingly, 54% of the study?s respondents are concerned about their own reputational risk due to the recent increase in corporate reputational disasters.

Also, respondents noted that board meetings are covering more topics including the economic recovery, health-care reform, the environment, mergers and acquisitions, and global and competitive issues.  Surprisingly, only 17% of the respondents said financial issues come up most frequently.  As to board members? confidence in their management teams? understanding of financial topics, only ?26% of directors said they thought their executive management team had a solid understanding of how to begin implementing international financial reporting standards, and only 34% thought executives had a firm grasp of how to create financial models to provide the company with strategic direction.?

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