Two-thirds of senior financial executives in U.S. public companies believe that the Sarbanes-Oxley corporate-disclosure law and concerns about higher director liability has made it more difficult to find qualified directors to serve on boards.
But while public companies have been having problems recruiting directors, a survey commissioned by Grant Thornton LLP found that more than three quarters of privately-held companies have not experienced the same difficulties.
This huge discrepancy highlights the fact that most privately held companies do not face the regulatory oversight that their publicly held counterparts do, or the threat of class-action shareholder lawsuits.
See full Article.
Posts
