There are a lot of issues to consider in determining board independence. What would be the best definition of true “independence”? Independence, as it relates to board members, refers to:
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A) |
the degree to which these persons are not biased or otherwise controlled by firm management or the outside audit group. | |
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B) |
avoidance of material conflicts of interest. | |
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C) |
the degree to which these persons are not biased or otherwise controlled by firm management or other groups which may have some degree of control over management. | |
Avoiding material conflicts of interest is important, but this is not a true definition of independence. Independent board members should be independent from the outside audit group, but this is not part of the actual definition. Benefiting management interests should not be a board priority. | 
发表于 2010-4-21 13:33
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