Board of Directors and Board Practices

 One of the key organs of governance

 Its role is to provide entrepreneurial
leadership of the company
 Duties include :
 to act within its powers
 to act in good faith
 to exercise care skills and diligence
 to exercise independent judgement
 to avoid conflict of interest.
 to declare interest when transacting
with the company
Responsibilities of directors
 to formulate and oversee execution of
strategy
 to manage succession planning
 to review performance of top
management
 to formulate internal control systems and
policies
 to instil ethical principles through
enculturation of core values and codes of
ethics
 to ensure availability of resources
(financial and non- financial) are in place
eg budgets
 to comply with laws, regulations and rules
 to meet expectations of stakeholders
including shareholders
 to prepare and disclose the audited
annual report and financial statements.