CORRA: Leveraging a Diverse, Skilled Team of Experts

Teams of independent experts will conduct the CORRA. These teams are composed of men and women who are skilled professionals in executive management, strategy, finance, legal, technology, human resources and any other skill sets that may be needed to fully assess each company and its operations. The teams may include consultants with special expertise where their skills and knowledge are required for a complete, independent evaluation (i.e., actuaries to assess insurance or pension issues, independent attorneys for legal reviews, forensic accountants for accounting fraud reviews, etc.). In addition secure, on-line polling and databases can be used, as needed, to seek input from company employees, share information within the team, or to provide updates to Management and the Board.

 
As with any audit or operational review by outside experts, a draft report will be prepared and shared with Management. Management’s comments will be incorporated in the final report presented to the Board of Directors. This assures that the Board understands the concerns and viewpoints of Management. It also assures that Management will have an opportunity to address each potential concern that is identified in the Assessment and provide additional analysis and information to the Board. Where appropriate, Management can prepare and submit action plans to the Board that address areas of concern identified during the Assessment. The goal of the CORRA is a fully informed dialogue between Management and the Board of Directors. It is up to them to determine what exposures are acceptable and what action may be required as a result of the CORRA report.