02 January 2014
Well-coordinated and structured committees can offer advice and information to enhance the quality of board decisionsWell-coordinated and structured committees can offer advice and information to enhance the quality of board decisions. The board’s role is to provide leadership, promote a company’s long-term success, set its strategic aims and ensure a framework of prudent and effective controls is in place. This does not sound like much when written in a single sentence but in practice it is a huge responsibility, often requiring the support of board committees with greater focus and more time to devote to the critical areas – albeit on behalf of the board itself. This is not a new concept per se – audit committees have been around in one form or another for well over 100 years.