The term “transparency” has been making the news in corporate scandals recently. Many allegations of financial mismanagement involve complex schemes that boards of directors approved, either explicitly or tacitly. Even if many of these arrangements might be found technically legal, the professional reputation of those involved might be tarnished beyond repair. Can you afford such a risk to your future?

Regulators and experts have suggested steps you can take now to prevent such damage to your reputation. Make your financial and professional arrangements as transparent as possible. This doesn’t mean broadcasting everything you do on television. It does mean looking at your processes and procedures and asking if a concerned stakeholder would find them enlightening or terminally confusing. Ask whether your board of directors or advisors is made up totally of insiders. If so, this could be costing you valuable outside perspective and counsel, as well as creating an image of your board as mere “rubberstampers” of anything you do. Discuss your individual situation with your legal advisor.

Another key step is to prove that you have as much interest in securing long-term success for your company as you do short-term profits. That’s an area where we can help. By advising you on options for protecting your financial, human, and physical assets, we can help you establish programs that will demonstrate your commitment to protecting your company against accidental loss.