The Boards are responsible for setting the strategy of the company, supervise management and ensure that they are serving the best interests and interests of shareholders and other stakeholders. They are also accountable for resolving conflicts between management as well as shareholders, whether they be disagreements over compensation or disagreements about the direction of the business.

As part of the many responsibilities that boards are required to perform they are frequently required to provide direction and assistance to the management team by giving them guidelines and resources, for example, approuving new marketing campaigns or allocating additional resources. They also are involved in determining the company’s risk-taking capacity and implementing a strong risk management program. They also have to ensure that internal controls are operating effectively.

The board also has to ensure that all legal requirements are fulfilled, and that the company is in good standing with regulators. This is a challenging task that requires coordination with other committees like audit and compliance.

Finally, boards are expected to help the business develop a healthy and solid environment by setting a positive example to all employees. This is especially important in the current context where corporate behavior is scrutinized more than improve your due diligence with the help of the virtual data room ever.