Another few months have passed, and Ms. Granger has realized that Wiz Corp'sboard of directors is very disconnected from the compliance function. The chief executive officer, H. Potter, has asked you (an outside board consultant) to write a brief report for the next board of director's meeting.Mr. Potter has asked you to summarize the board's fiduciary duties and explain what role you believe theboard should play in compliance and the reasons why. He would also like you to explain how you believe the board and the compliance function should interact. Answer in a memorandum addressed to the board.