PT - JOURNAL ARTICLE AU - William J. Hass AU - Shepherd G. Pryor IV TI - Effective Investors, Directors, Boards, and Audit Committees Monitor Fundamentals DP - 2003 Mar 20 TA - Turnaround Management PG - 50--60 VI - 2003 IP - 1 4099 - http://guides.pm-research.com/content/2003/1/50.short 4100 - http://guides.pm-research.com/content/2003/1/50.full AB - To avoid remaking the well-publicized corporate mistakes of the recent past, investors, directors, audit committees, and boards need to go beyond basic financial statements to monitor financial health and assess risks. Effective audit committees will begin to experiment with broader systematic disclosures of both financial and non-financial information to improve transparency. Investors need to demand more transparent systematic disclosures and learn how to use new metrics. However, only management can make the substantial changes that are required. Experts Hass and Pryor explain how institutional investors can encourage directors and boards to be more thorough and vigilant. These processes help improve decision making and reduce risk.