No matter if it’s for an organisation, charity or community, the board documents define the structure and the governance of the organization. Without these documents there would be no guidance regarding how to act and no accountability for the company. They are not only important to ensure that the board is fulfilling its fiduciary duties as well as provide transparency and accountability for the stakeholders.
Having the right documents at the ready prior to a meeting of the board is crucial to facilitate helpful discourse and ensuring that everyone is prepared for the meeting. This is only possible if the information is presented in a concise, clear and complete way.
The most important documents for board members include annual reports, agendas, financial reports and the board resolution outline. Depending on the company, these are either made public or kept secret, but all provide information to those who are interested in the company’s advancement and direction.
Another important document that is often overlooked is the board’s policies, which Board portal set out guidelines and standards on the way boards operate. They could include self-evaluation of the board’s staff relations, a board-staff relationship and volunteer policies as well as financial management practices.
Organizations are increasingly using electronic board books, such as the BoardWorks portal. This will reduce costs by removing the requirement to print, bind and mail paper documents. Furthermore these platforms facilitate better engagement amongst directors during meetings since they can locate and access documents on the platform.
