March 2014
Beginner
316 pages
7h 48m
English
Content preview from Fraud Prevention and Detection
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FRAUD PREVENTION AND DETECTION
158
CORPORATE LAW—UNITED STATES
In the United States, every state regulates corporations. The statutes pro-
vide for the creation of corporations along with the duties and responsi-
bilities of directors. In most cases these duties and responsibilities follow
the common law principles providing that a director does not require
any specic skills and has a duciary duty to act in the best interest of
the corporation.
There are some specic requirements that affect the duties of a direc-
tor, but most are very general in nature and have not provided many sanc-
tions to a director who only participated in board decisions ...
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