Connotation of oversight has changed and expanded, to mean effective leadership in guiding the management in strategic decisions, creation of suitable structures and processes for effective implementation and monitoring of managerial performance; and ensuring compliance with laws and regulations. The scope of oversight has undergone further change with implied inclusion of an ethic that transcends strict response to regulations.
The US financial sector is showing all the signs of concern about rising risks and lowering profit expectations in the business sector. Spreads between yields on US Treasury securities and corporate bonds have widened noticeably. The data on IPOs shows that it became increasingly difficult during the year to get these away.