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Role of the Board of Directors
Major duties and responsibilities for the Board of Directors are:
• Serves as trustees for all stockholders
• Develops direction of the company
• Oversees corporate performance
• Selects a CEO
• Approves the Business Plan, including the budget
• Approves any nancial proposals that materially aect the business
• Sets up and oversees at least three committees—Audit, Compensation,
and Governance
Here are the three committees that are required for the smooth opera-
tion and decision making of the Board.
1. Audit committee—Oversees all nancial reporting, is responsible for
risk and liabilities management, and audits ...