Watch and research this current case that highlights key questions around family business governance and accountability. What lessons are there to learn for family businesses' governance, in terms of increased external demands from regulators like the SEC and increased demands for oversight. What might it suggest for the competences and capacities demanded of a family business's advisory ?
There have been many cases in corporate history where family businesses were involved in illegal or unethical practices due to the lack of accountability. Due to these reasons, SEC and other authorities have been demanding high transparency and oversight on the family business operations. The owners of the family business must comply with these rules and ensure that all their employees are professional and have integrity. They must be accountable for their operations. The advisory of these businesses is also responsible to make sure that all decisions of the company are ethical and legal.