As a result, clients have a much greater level of protection when working with a fiduciary as opposed to a non-fiduciary.

FORBES: What Every Client Needs To Know, But Didn't Know To Ask

On the state level, backdating could involve a breach of fiduciary duty, a waste of corporate assets and even a usurpation of a corporate opportunity.

FORBES: The Next Big Scandal

Regardless of the level and scope of outsourcing services a committee selects, fiduciary responsibility cannot be delegated.

FORBES: CIO Outsourcing: Questions Investment Committees Need to Ask