A board of directors rely on various types of documents to fulfill its responsibilities, from legal requirements to internal policies and guidelines. To make the best decisions, boards must have access, accurate and concise information.

Having the right board documents is crucial for any non-profit organisation to be successful. A board can become bogged down in administrative tasks with no appropriate https://swrc2.info/the-software-your-industry-requires-to-do-international-business/ documents and lose focus on strategy. It is essential to have these five documents readily available in order to ensure that your board is fulfilling its fiduciary responsibility of accountability.

Board papers are documents that board members go through prior to and during the meeting. These documents are vital because they provide background and context which helps boards make informed decisions. Board papers must be concise, clear and comprehensive. This is the result of three C’s:

Financial Statements

Board members require an easy-to-read visual representation of the financial health of their company to know what’s owned, how much money is available and what expenses are authorised by the board. The board needs to be familiar with the company’s financials in order to ask the appropriate questions during meetings and oversee the CEO’s financial accountability.