Making sure that you are getting accurate information and asking relevant questions can be challenging. However, PwC recommends that reporting to board of directors begins by ensuring that the board materials are clear and designed to promote transparency and trust. In addition, shareholder reporting and transparency are now more important than ever for investors, who…
Amid concerns over people-related risks and talent retention, a strong board-nominating committee is essential. People-related risks, including staff and skills retention, are cited as one of the principal risks for 63% of companies. Yet, only 35% of company secretaries report having a sustainable pool of talent in their executive pipeline. The board nominating committee, often…
Convening an average of 9.7 meetings annually, board meeting management plays a pivotal role in corporate governance. As per a staggering statistic, 65% of non-executive directors are burdened with additional commitments which often involve the intricacies of meeting management. This highlights the urgent need to establish an effective framework for conducting a board meeting, where…
Boards are responsible for steering the company and making significant decisions that affect shareholders and the organization. Beyond these crucial responsibilities, an overwhelming 95% of directors and executives consider it their foremost duty to cultivate and protect stakeholders’ trust. . Building trust among stakeholders significantly impacts how the board makes decisions. Thus, the resolution of…
Board engagement model and information infrastructure are two key components of effective board governance, according to Deloitte. These, along with an effective board of directors, a well-functioning corporate governance framework, and a board effectiveness assessment are critical to protecting your company and enduring board effectiveness. When navigating corporate governance, companies frequently seek guidance on board…
Over the past few years, numerous businesses have transitioned to digitizing their data storage and management procedures. In fact, only in 2021, 81% of companies have embraced digital transformation to streamline their processes. In 2022, the global digital transformation spending was estimated at $1.8 trillion. And by 2026, it is expected to reach $3.4 trillion….
In December 2001, an innovative energy company Enron with $63.4 billion in assets, went bankrupt. Some of the company’s executives were imprisoned for fraud, and shareholders filed a $40 billion lawsuit against the company. It used to be the biggest bankruptcy in the history of the United States. What was the reason for such a…
Environmental, social, and governance issues relate to investing in a business that sustainably and ethically impacts the world. It’s sometimes synonymous with socially responsible investing and impact investing. In generations past, businesses didn’t have to worry as much about ESG practices. Yes, it was great for marketing and brand image — but ESG issues weren’t…
Bylaws is a legal document that is basically a set of rules and procedures that govern how the company is run and how the board of directors functions. In other words, this is a kind of practical manual for the board. An organization’s bylaws look different depending on the organization’s type. Naturally, they differ in…
In 2023, 65% of companies plan to hold an increased number of events and meetings. . From January to December 2020, virtual group meetings increased by nearly 613%. Given the rising role of virtual board meetings, it’s necessary to put systems in place to prevent board meetings from ambling and halting everybody’s productivity for the…