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A board charter is a policy document that clearly defines the respective roles, responsibilities, and authorities of the board of directors (both individually and collectively) and management in setting the direction, the management, and the control of the organization.
Benefits of Board Charters:
- Assists the corporation’s leadership in delivering good governance;
- Documents the policies that the board has decided upon to meet its legal and other responsibilities;
- Serves as a reminder for the board of the legal framework within which it operates;
- Is a point of reference for disputes;
- Serves as an induction tool for new directors and senior managers;
- Greatly assists in establishing effective operating procedures for a board;
- Develops a shared understanding of the board’s role throughout the organization.
A board charter is a policy document that clearly defines the respective roles, responsibilities, and authorities of the board of directors (both individually and collectively) and management in setting the direction, the management, and the control of the organization.
Benefits of Board Charters:
- Assists the corporation’s leadership in delivering good governance;
- Documents the policies that the board has decided upon to meet its legal and other responsibilities;
- Serves as a reminder for the board of the legal framework within which it operates;
- Is a point of reference for disputes;
- Serves as an induction tool for new directors and senior managers;
- Greatly assists in establishing effective operating procedures for a board;
- Develops a shared understanding of the board’s role throughout the organization.