Whether it is for organizations that are government, commercial or nonprofit organizations, boards have to deal with confidential and sensitive information on a daily basis. They have a fiduciary responsibility to safeguard the interests and interests of shareholders. Therefore, they must be able to discuss sensitive issues without fear of their discussions being publicized.
A secure board portal, which is only accessible by people with the right password, is an important way to safeguard the board’s sensitive documents. It is also helpful to create policies regarding the safe storage and disposal of physical paper documents. Finally, using a board app that allows secure sharing of documents can be a great option to avoid access violations.
Many organizations do not follow this advice, even though it may seem obvious. This is particularly true for board meetings. A leak of confidential data can damage an organization’s image and may be legally liable for directors and the company.
A confidentiality agreement is an essential instrument for keeping confidential documents confidential, but it isn’t always easy to enforce. A board’s policy on confidentiality should clearly define the consequences for violating the agreement. This could include penalties and disciplinary action. In addition, it should define what types of information must be kept confidential and include security protocols, such as encryption and the use of only approved platforms for communication.
