After viewing the Corporate Governance Seminar 2012: Panel Discussion, address the following questions

After viewing the Corporate Governance Seminar 2012: Panel Discussion, address the following questions. What is the utility of a strategic advisory (governing) board versus a statutory board? Do you feel that the role of the statutory board could be replaced by independent auditors in Western, Anglo-American firms? What about firms from continental Europe, Asia, Latin America, and Africa? http://economictimes.indiatimes.com/et-now/corporate/corporate-governance-seminar-2012-panel-discussion/videoshow/16798384.cms