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Integrated Annual Report 2017Contents 1 1Scope of report Board responsibility statementGroup overview1 2Corporate governanceOperating context3Shareholders4Annual financial report532Audit and Risk

How to fill out board responsibility statement

How to fill out a board responsibility statement:

1. Begin by clearly defining the purpose and objectives of the board responsibility statement. This should include stating the board's mission, the areas of responsibility it oversees, and any specific goals or targets it aims to achieve.
2. Identify the key roles and positions within the board that will be documented in the responsibility statement. This may include the chairperson, vice-chairperson, secretary, treasurer, and other board members with specific responsibilities or committee assignments.
3. Outline the specific duties and responsibilities of each board position. This should include a comprehensive list of tasks, decision-making authority, and any reporting requirements or obligations to stakeholders.
4. Ensure that the responsibilities outlined in the board responsibility statement are aligned with the organization's bylaws, policies, and legal requirements. This will help ensure that the board operates within the appropriate legal and ethical frameworks.
5. Consider including provisions for conflict of interest disclosure and management within the responsibility statement. This is important to ensure transparency and accountability among board members.
6. Review and revise the board responsibility statement on a regular basis. As the organization evolves and faces new challenges, the responsibilities of the board may need to be updated to reflect changing circumstances.

Who needs a board responsibility statement:

1. Nonprofit organizations: Nonprofits rely on the expertise and guidance of their boards of directors to fulfill their mission and serve their stakeholders. A board responsibility statement helps outline the specific roles and responsibilities of board members in advancing the organization's goals.
2. Corporations and businesses: Corporate boards play a crucial role in overseeing the strategic direction, financial management, and ethical conduct of businesses. A board responsibility statement ensures that board members understand their fiduciary duties and responsibilities to shareholders and stakeholders.
3. Government entities: Boards and commissions in governmental bodies are responsible for making important policy decisions and ensuring the effective administration of public services. A board responsibility statement helps define the roles and responsibilities of board members in fulfilling their public duties.

In summary, filling out a board responsibility statement requires clearly defining the board's purpose, identifying key positions, outlining specific duties, ensuring alignment with bylaws and legal requirements, including provisions for conflict of interest, and regularly reviewing and revising the statement. Such statements are necessary for nonprofit organizations, corporations, businesses, and government entities to establish clear roles and responsibilities for their boards.

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What is board responsibility statement?

The board responsibility statement is a document that outlines the duties and obligations of a company's board of directors.

Who is required to file board responsibility statement?

All companies with a board of directors are required to file a board responsibility statement.

How to fill out board responsibility statement?

The board responsibility statement can be filled out by providing information on the board's composition, responsibilities, and compliance with legal requirements.

What is the purpose of board responsibility statement?

The purpose of the board responsibility statement is to ensure transparency and accountability for the actions of the board of directors.

What information must be reported on board responsibility statement?

The board responsibility statement must include details on the board's composition, responsibilities, and compliance with legal requirements.