In March $2023,$ the high$-$profile and sudden failure of Silicon Valley Bank, which hid huge losses from its depositors, invesitrs, and regulators, highlighted the dangers of cor Which of the following statements best addresses how to prevent failures like these and provide for greater effectiveness in the strategy$-$making process?

Board of directors should never challenge a strong$-$willed or "imperial" CEO because doing so would abrogate their fiduciary duty to represent and protect shareholder in

To mitigate the risk of corporate fraud, companies$-$big and small$-$need to have strong risk management and board oversight systems in place. This includes having clea detecting and preventing fraud, as well as regular training and education for employees on how to recognize and report fraud.

Board of directors has a fiduciary duty to monitor actual experience, changing conditions, new ideas, and new opportunities, but financial reports and adhering to generally $($GAAP$)$ are the sole purview of the CEO and CFO.

Evaluating the caliber of the CEO and senior management and overseeing the CEO hiring process are the sole responsibilities of the board of directors.

Board of directors is only charged with formulating a compensation plan for top executives that rewards them for actions and results that serve stakeholder interests.