CGOV.7:2 - Problem

A report can be called independent because its author is outside the company, although payment depends on closing the transaction. A committee can consist of unconflicted members who lack the authority or information needed to decide. Conversely, competent advice can be unnecessarily repeated because nobody distinguishes a required review from an optional additional opinion.

Independence and competence answer different questions. Corporate authority answers another. Conflating them can produce an expensive review that leaves the real decision unprepared.