Through the consortium, the founders -- Axentis, Hyland Software, Hyperion Solutions Corp., Jefferson Wells International, Intuition, Navigant Consulting, The Network, PLI- Corpedia, and Staffware -- will establish and promote governance, risk and compliance best practices.
While the goal of federal regulations such as Sarbanes-Oxley and Basel II is well intended -- increase corporate fairness, visibility and accountability -- interpreting and applying the complexities of federal regulations, poses a significant challenge.
"Developing effective corporate governance practices -- and executing on them -- is absolutely essential for businesses today," said Rick Steinberg, founder and principal of Steinberg Governance Advisors. "As a member of Approva's advisory board, I am pleased to see the company contributing to a consortium dedicated to establishing technology-supported governance standards and best practices."
This article was compiled and edited by CIO Update staff. Please direct any questions regarding its content to Allen Bernard, Managing Editor.