The Role of U.S. Corporate Boards in Enterprise Risk Management

Authors: Carolyn Kay Brancato, Ellen S. Hexter, Katharine Rose Newman, Matteo Tonello

Boards of Directors in the United States, having focused heavily on Sarbanes-Oxley requirements and more rigorous governance and compliance standards, are now beginning to assess their evolving role in providing oversight in the area of enterprise risk management (ERM). In view of the rapidly developing state of ERM in U.S. corporations, boards face a particularly challenging set of issues in responding to the need for improved oversight of risk management. The Conference Board with McKinsey & Company and KPMG’s Audit Committee Institute conducted research on the role of U.S. corporate boards in Enterprise Risk Management between October 2005 through February 2006.

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