Content by Topic: Legal Issues and Compliance

You can use the pull-down menu below to narrow results by type of content, e.g. Trusteeship articles or publications.

Boards must understand and properly interpret the institution’s financial statements as well as see financial trends and the impact of economic events; they must employ strategic planning in the accreditation process and oversee regular audits of financial activities, adhere to laws and regulations, and monitor the institution’s conflict of interest policies; and they must practice their legal and fiduciary responsibilities to protect their institutions, limiting their exposure to potential personal liability if they do not exercise sufficient oversight of institutional affairs.