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Board Meeting Facts are an essential element of corporate governance that could be vital for a company’s future. A slack board that merely endorses whatever management decides to put on the agenda isn’t executing its role and could be putting the business at risk.
Meetings for boards are often long and boring and it’s easy to lose the time spent watching reports or discussing irrelevant topics. The effectiveness of a meeting can be influenced by many factors, including the way the agenda is arranged and the amount of time that is spent on important questions and topics, and the rules that govern the meeting.
Rules for meetings can vary between boards, but should be clearly and consistently stated to ensure consistency and transparency. Certain rules are set by law (e.g. the quorum requirement) however others may be determined either through the board’s own bylaws or by common law.
Attendance records should be clearly documented in the minutes of meetings, with the percent of attendees that constitute a quorum recorded. It’s also important to document who was present, for example, if board members were absent or when they were participating remotely (see our article on Board Member Attendance). It is important to note the details of each meeting, and the amount of time spent on each subject. This can help manage time and avoid repetition of information in subsequent meetings.
