How corporate treasury teams can take a leading role in "impact" initiatives—and why they should.

"The companies I've run across and worked with are all looking for ways to be 'best in class' corporate citizens in this area, and are open to engaging in a dialogue about what they can do better, and what it takes to be leaders," said Marc Treviño, co-head of Sullivan & Cromwell's corporate governance practice.

"If it's an 8-to-5 job, what are they supposed to do if someone's at the door, or there's a delivery person, or a kid, or some other issue that they need to deal with?" said David Barron, a Cozen O'Connor member.

The goal should be to create a virtuous circle. Make audit more enticing as a long-term career, attract people who do the work better—and hopefully cut the number of blowups.