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The Importance of Board Documents
Whether for an organisation, charity or community, board documents provide the structure and the governance of the organization. These documents are essential for the accountability and direction of the organisation. These documents are essential not only to ensure that the board fulfills its fiduciary obligation as well as to provide transparency and accountability to all stakeholders.
It is essential to have the proper documents available before a board of directors meeting. This will aid in having a productive discussion and ensure that all members arrive well prepared. This can only happen when the information is presented in a concise, clear and complete way.
Some of the most important documents of the board include annual reports, agendas financial reports, as well as board resolutions that outline. Depending on the company, they are either released to the public or kept confidential however, they all provide information to those who are interested in the company’s development and direction.
Another important document that is often overlooked are the board policies that establish guidelines and standards on how boards should function. This could include self-evaluation policies, board-staff relationship policy, financial management policies or volunteer practices.
Organizations are increasingly utilizing electronic board books, such as the BoardWorks portal. This can cut costs by eliminating the need to print, bind or mail paper documents. These platforms also facilitate more involvement of directors during meetings because they can easily access and locate documents from the platform.
