A board charter serves a number of important functions for your board. For example, a charter: Serves as a reminder for the board of the legal framework within which it operates; Documents the policies the board has decided upon to meet its legal and other responsibilities; Assists the organisation’s leadership in delivering good governance; Is a point of reference for disputes; and Serves as an induction tool for new directors and senior managers. It should also be noted that your charter leaves a legacy from today’s board to future boards. However, a board charter will only be value creating if it is carefully crafted, used and regularly updated.
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