Survey Results: Director Recruitment & Training


1. When your company recruits new directors, do you conduct a background check on the candidates: (Total responses: n=17)
(select only one)
n=14 (82.35%) Yes
n=3 (17.65%) No

2. If you answered "yes" to #1, does your company: (select all that apply, may total more than 100%) (Total responses: n=13)
(select all that apply, may total more than 100%)
n=10 (76.92%) Use a third-party to conduct the background check (e.g. private investigator)
n=5 (38.46%) Use internal resources to conduct the background check

3. If you answered "yes" to #1, does your company: (select all that apply, may total more than 100%) (Total responses: n=13)
(select all that apply, may total more than 100%)
n=13 (100.00%) Check the background of the candidate's professional life
n=9 (69.23%) Check the background of the candidate's personal life

4. If you answered "yes" to #1, has your company ever decided not to nominate a director based on the results of a background check: (Total responses: n=12)
(select only one)
n=0 (0.00%) Yes
n=12 (100.00%) No

5. Does your company require Audit Committee members to complete ongoing training to stay current with GAAP and PCAOB standards for financial reporting and internal controls: (Total responses: n=16)
(select only one)
n=1 (6.25%) Yes
n=15 (93.75%) No