The Chief Marketing Officer's list of responsibilities continues to get longer and more complex, with many CMOs perceiving risk management as yet another undertaking added to the mix. Dealing with risk is not something that CMOs traditionally put at the top of their to-do lists. But as the potential benefits of enterprise risk management become better understood, other C-suite executives are increasingly formalizing how they monitor and address risk. This shift is creating an imperative for the CMO to follow suit.

Press coverage and Securities and Exchange Commission scrutiny of non-GAAP measures have increased significantly over the past few months. The intense focus on these measures results from their increased use and prominence, the nature of the adjustments and the progressively large difference between the amounts reported for GAAP and non-GAAP measures. Learn what issues organizations may want to consider before preparing earnings releases and periodic filings that contain non-GAAP measures.

In response to business disruption stemming from economic upheaval, market evolution, regulatory demands and technological change many organizations are developing risk-sensing programs that use human insights and advanced analytics capabilities to identify, analyze and monitor emerging risks. However, understanding which events pose the greatest opportunity, not just the greatest risk, is important to developing effective risk sensing, which enables leaders to focus resources on what matters most.

The data leak known as the "Panama Papers" is likely to have many compliance officers revisiting their respective organizations' exposure to relationships with third parties that utilize offshore entities. Given the breadth, depth and complexity of the potential implications surrounding the leak, as well as other similar existing regulatory enforcement trends, it is critical that organizations consider a risk-based, tailored approach to proactively assess compliance risks to which they may be subject.

The SEC recently updated its Compliance and Disclosures Interpretations (C&DIs) on non-GAAP measures in response to its increasing concerns that such measures may be misleading, more prominent than comparable GAAP measures or inconsistently presented from period to period. The C&DIs do not prohibit companies from using non-GAAP measures that comply with the SEC's existing rules, however the regulator's tone in the interpretations is intentionally forceful, in an effort to "send a message."

Companies, investors and regulators recognize the importance of an effective board of directors, with an ever-greater emphasis placed on board structure, composition and refreshment. Beyond the need for a variety of skills and experience, establishing a vital mix of personality traits can also be an important consideration, as this can greatly impact the board's effectiveness. Interacting with diverse personalities comes with the territory, but how well directors relate to conflicting personalities can mean the difference between collegial and respectful interactions--or clashes of opinions that stifle creative thinking.

As the Internet of Things (IoT) blurs the line between products and services, taxation may have a bigger impact than many expect. Companies are taxed differently depending on whether they sell a product or service, and are taxed as a regulated utility if what they sell is deemed to be'telecommunications.' To address IoT-related tax challenges effectively, an organization's tax leader should have an understanding of the new products and services being brought to market and consider joining the development process early.

There is a major power shift in and around corporations that potentially gives consumers and shareholders more control over organizations than they had in the past, according to Jose Luis Prado, president, Prado Strategic Consulting LLC, who also serves on several corporate boards. Mr. Prado discusses how "shared control" of organizations can create challenges related to communications, reputation and risk-taking, as well as how corporate directors can effectively respond to these challenges.