Five Types of Board Documents

A board of directors is dependent on several types of documents to perform its responsibilities, from legal requirements to internal guidelines and policies. To make informed decisions, a board must have access to complete and precise information.

It is essential that any non-profit organisation has the correct document for its board to ensure that it is successful. Without the right materials, a board can be bogged down with administrative tasks and lose the focus on read the article about the software your industry requires to do international business strategic growth. It’s vital to keep these five documents readily available to ensure that your board is meeting its fiduciary responsibilities of accountability.

Board papers are the material that board members review before and during a board meeting. These documents are vital because they provide context and background information that aids boards in making informed decisions. Board documents must be concise, clear and complete. This is a combination of three factors:

Financial Statements

Board members require a quick overview of the financial health of the business that is simple to comprehend. This will help them know what the company has and how much cash is in the bank and what expenses have been voted on by the board. The board should be familiar with the company’s finances to ensure they can ask the appropriate questions during meetings and oversee the CEO’s financial responsibility.