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Get on Board: Should You Serve as a Corporate Director Today?

Section 407 of The Sarbanes-Oxley Act of 2002 requires at least one financial expert to serve on the audit committee of the board. This legislation was codified in January 2003 by the Securities and Exchange Commission (SEC) when it issued Final Rule #33-8177, “Disclosure Required by Sections 406 and 407 of the Sarbanes- Oxley Act of 2002.”

In today’s uncertain climate, FEI members and other senior financial executives may wonder whether they should serve on a board of directors, and whether they should be identified as “the financial expert.”

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