Corporate governance

1) When we talk about corporate governance we sometimes forget the diversity of U.S. corporations. How is corporate governance different in a public company as compared with a private company, or a nonprofit corporation? Why?

2) Boards of Directors have become more independent of management in recent years than they used to be. What signs might be observed to indicate that the board in a particular company is acting independently, or is taking its cues from management.

3) Show the role of the internal audit committee in current corporate governance practice. What does the committee do? What criteria are used to select members of the committee?