Board Reviews- The New Direction

Since the Financial Crisis of 2007/8, Board Effectiveness Reviews (BER) have become common place. Not surprisingly, given the root causes of that financial crisis, the focus of such reviews has generally been on the “mechanics” of running a company Board well.

Typically this has led to a Board Effectiveness Review being based upon assessments of management procedures being in place and executed to a high standard. For example, Board Terms of Reference, Board and Sub-Committee composition, skill sets of Board Members, quality of Board Information Packs, and the quality of minutes and follow-through on agreed actions/conclusions.?

Given that it is accepted good practice that a BER should happen about every third year then, surely, successive BERs conducted on the same basis will lead to diminishing returns in respect of possible improvements. So, has the time come for a change of emphasis when your next BER is due?

Our experience of working in smaller financial services businesses leads us to believe that…….Read More