What SarbOx Means to the Corporate Governance of Non-Profits

Sarbanes-Oxley may have been enacted to correct corporate governance problems in public companies, but it has had a much more far-reaching impact – including in the non-profit world.   Two of its provisions – expanded protections for internal whistleblowers and new standards on document retention – have been incorporated into the U.S. Code.  But even more significant is the extent to which non-profits have taken a look at SarbOx for guidance on how to change their corporate governance structure.  In fact, in a study done last year, the accounting firm of Grant Thornton LLP reported that 48 percent of the nation’s non-profits have changed their corporate governance practices since SarbOx was enacted.  What can and should non-profits take away from a look at Sarbanes-Oxley?  And, if you decide to overhaul your organization’s corporate governance structure, what are the best practices?  Our panelists have been down this road and will share their insights with you.