More private companies are voluntarily adopting improved corporate governance practices

An October 2012 PWC study indicates large private companies see widespread benefit to public company corporate governance processes. PWC surveyed 221 CEOs and CFOs from companies who were spit approximately evenly from service and product companies. The companies had average revenues of $307 million.

80% of these private companies are adopting specific corporate governance practices, although the manner of adoption is often tailored to the companies’ management and perceived needs.

One of the least expensive “public-company” governance practices involves adoption of a whistleblower reporting system, and related policies regarding how complaints are to be handled. This Best Practices article provides additional information.

 

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