In January of 2015, the U.S. Court of Appeals of the Third Circuit, a landmark decision was made that is critical to boards and emphasizes the importance of due diligence and good governance.  This case highlights the importance of addressing staff realities, having an effective audit committee, protecting each other (risk management) and beging attendtive to compliance basics like making sure all board members understand the duties of care, their responsibilities related to the IRS Form 990 as well as other issues surrounding conflict of interest and basic accounting procedures.  Read the article here: The Cost of Director Inattentiveness