If the extent of material gain or loss cannot be determined exactly, this is no excuse for delaying or avoiding disclosure CEO vital in ensuring no surprises occur and must act as a conduit between management and board to enable effective communication
Companies dont set out to fail. However, they may fail because they lack an appropriate governance framework. A recent article in The Age1 newspaper reported that more businesses failed during 2010 than during the global financial crisis, mainly due to poor risk management and negative cash flow. While this article wont delve into the science of cash flow management, it will help you understand the crucial governance basics relevant to all companies.
Merton's specialises in providing guidance and support on governance issues allowing directors to maintain the right balance between their corporate governance obligations and a focus on strategic decisions and performance.