PwC and Institute of Internal Auditors Release Board Effectiveness Book as Expectations of Corporate Directors Rise

NEW YORK, Dec. 13, 2011 /PRNewswire/ -- A new book authored by PwC US and published by The Institute of Internal Auditors (IIA) Research Foundation helps directors address their fiduciary and other responsibilities, in light of recent developments and new regulations that affect boards.  With insights from directors and governance experts around the world, Board Effectiveness -- What Works Best, helps directors navigate the increasingly complex environment they face.

(Logo: http://photos.prnewswire.com/prnh/20100917/NY66894LOGO)

"We've seen increased boardroom focus on shareholder engagement, particularly in challenging areas such as technology, crisis management and reputational risk," said Catherine Bromilow, partner in PwC's Center for Board Governance. "This book helps board directors address the issues they are facing today and into the future."

The book includes insights from active directors about their boardroom experiences. Views from governance experts and survey data also highlight how directors are handling their responsibilities. For example, the book notes the findings of PwC's 2011 Annual Corporate Directors Survey showing that 59 percent of directors want to spend more time on strategy. One director quoted in the book expanded on that statistic, saying, "If we could spend additional time on strategy, I would devote it to deepening the discussion of scenarios and strategic alternatives."

The book, which serves as a practical tool for directors, also includes a Board of Directors Self-assessment Guide, focusing on best practices and key takeaways from the report.

"In my thirty-plus years as an internal audit practitioner and chief audit executive, I've never witnessed the level of scrutiny of the board like it is today," said IIA President and CEO Richard Chambers. "The IIA's Research Foundation published this book to ensure there is a comprehensive resource for internal auditing's primary stakeholders."

Topics covered in the book include:

• Strategy and implementation
• Risk and crisis management
• Corporate ethics
• Monitoring company performance
• Transformational transactions
• Management evaluations, compensation and succession
• Communicating with stakeholders
• Board dynamics

Board Effectiveness -- What Works Best (2^nd edition) is available in the IIA Research Foundation's bookstore at www.theiia.org/bookstore.

About PwC's Center for Board Governance
PwC's Center for Board Governance is a leading resource to enable directors to more effectively meet the challenges of their critical role.  By promoting leading governance practices the Center promotes excellence in the boardroom and is dedicated to better enabling boards and audit committees to perform their important roles.  To provide timely updates to board members, the Center publishes the Annual Corporate Directors Survey, annual Current Development for Directors, quarterly To the Point, quarterly BoardroomDirect, and offers forums for directors to discuss current issues.

For more information, please visit http://www.pwc.com/US/CenterForBoardGovernance.

About The IIA and The IIA Research Foundation
Celebrating its 70th year, The IIA was founded in 1941.With 170,000 members in 165 countries, The Institute of Internal Auditors (IIA) is an international professional association with global headquarters in Altamonte Springs, Fla., USA. The IIA is the internal audit profession's global voice, recognized authority, acknowledged leader, chief advocate, and principal educator. The IIARF was founded in 1976 by The IIA. The IIA Research Foundation expands knowledge and understanding of internal auditing by providing relevant research and educational products to advance the profession globally.

About the PwC Network
PwC firms help organizations and individuals create the value they're looking for.  We're a network of firms in 158 countries with close to 169,000 people who are committed to delivering quality in assurance, tax and advisory services.  Tell us what matters to you and find out more by visiting us at http://www.pwc.com.

© 2011 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the US member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.

SOURCE PwC US