Warren Tapp from Tapp Advisory introduces his third book, Questions for Company Directors.
Questions for Company Directors is a practical guide for board members to fulfil their responsibilities more effectively.
It amazes me how little many directors take an interest in their company’s insurances. From a risk management viewpoint is a risk transfer tool, pay the premium and let the insurer cover the risk by transferring it to them.
How can board members get better insights into what the road ahead holds for your organisation? Often board reports help directors see past results, but that is history, although part of your monitoring role. Understanding what is coming next is critical for strategic oversight and setting the strategic direction for the company.
How can Board members get better insights into what the road ahead looks like for their company? Board reports help directors see past results, but that is history. Understanding what is coming next is the critical foresight needed to set the strategic direction.
Effective corporate governance relies on clear communication and informed decision making. A concise executive summary from management plays a crucial role in facilitating board effectiveness.
Directors and management have obligations under the law of negligence to take reasonable care not to cause foreseeable harm to these people and provide a safe and healthy work environment.
As board directors, financial literacy is not just filling a role. Understanding financial statements is about fulfilling your legal duties and providing good stewardship of your organization. The legal requirements for the financial ability of a director are defined by legislation, whether you are an incorporated association, a company or a charity.
Data governance is a business imperative, and Boards are responsible for ensuring a good data protection framework is in place. This year the average exposed data cost is $165 per record and ransom demands up to several million dollars.
Board Papers form the book, ‘So You Want to be a Company Director’. Article by Warren Tapp.
One problem I often see is that the Board gets a large file of Board papers. This is because the CEO gives them everything they have since the Board has never told the CEO what they want and don’t want.
Board Problems, from the Warren Tapp book ‘Board Basics’
1. Board’s Power to Remove Directors
A board cannot remove a director; only the shareholders or members have the authority to do so.
– If there’s a serious issue with a director, the Chair should meet with them and suggest they resign if the board has lost confidence in them.
