Whistleblowing and Good Governance

Abstract

The Sarbanes-Oxley Act of 2002 (SOX) has forever changed corporate governance for publicly held corporations. Recent data suggest that the costs of compliance with the provisions of SOX can be very significant. Problems exist in the government and nonprofit sectors just as they do in the corporate sector. Recent alleged problems at the World Bank include kickbacks, payoffs, bribery, embezzlement, and collusive bidding. In 2002, the United Way scandal came to the public's attention. Its aftermath has had a dramatic impact on fundraising. Even universities are not immune from scandals. Organizations of all kinds should better understand what whistleblowing is, what the components of a whistleblowing policy are, and where to turn for more information. All organizations, including universities, governmental entities, and nonprofits, should consider implementing whistleblowing provisions. The purpose of this article is to increase awareness of the need for whistleblower policies for universities, governmental entities, and nonprofit organizations.

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