FEI Launches Financial Services Registry to Help With Sarbanes Compliance
One of the provisions of the Sarbanes-Oxley Act implemented last year requires public companies to identify a "financial expert" on their Boards of Directors. To assist in compliance with this requirement, the Financial Executives Institute (FEI) has created a registry of financial executives with extensive experience available to serve as independent directors on the audit committees of public companies.
Participation in the FEI's Financial Experts/Audit Committee Directors Registry is open to FEI members. Those looking for financial experts for a Board may contact Diane Albergo at firstname.lastname@example.org, or 973-765-1026
"As a membership organization of senior financial executives, including more than 5,000 CFOs, FEI has a natural interest in audit committee governance," notes FEI President and CEO Colleen Sayther. "CFOs have the finance and accounting experience, the financial sophistication and the financial oversight responsibilities that today's directorship roles demand, and therefore they make exceptional candidates to serve as an independent director on audit committees. Creating shareholder value inherently involves taking risk with the capital entrusted to the management team. The financial expert should be the experienced professional who can ask the tough questions and identify the key risks before problems arise."
Additional tools are available on the FEI Web site to assist with Sarbanes-Oxley compliance.