The Importance of Board Documents
Board documents are the foundation of any organisation, no matter if it’s a charity, community or organisation. They provide the structure and governance for the organization. Without these documents there would be no direction on how to behave and no accountability for the company. They are not just necessary to ensure that the board is fulfilling its fiduciary obligations as well as provide transparency and accountability for all stakeholders.
Having the appropriate documents on the ready before a board meeting can be crucial in facilitating productive discussion and ensuring that all members are well prepared for the meeting. This is only possible if the information is presented in a concise, clear and complete way.
Annual reports, agendas and financial reports are a few of the most important documents produced by boards. Depending on the company, these documents are either public or kept confidential however, they all provide information to the stakeholders of an organisation’s advancement and direction.
Board policies are another important document that is often not considered. They define the guidelines and standards of how a board operates. They could include self-evaluation guidelines, board-staff relationship policy, volunteer policy or financial management practices.
Organizations are increasingly using electronic board books, like the BoardWorks portal. This can cut expenses by eliminating the need to print, bind and mail paper files. Additionally these platforms permit greater participation among directors during meetings as they can locate and access documents quickly from the platform.
