What are the roles of board committees?
Board committees are established for a particular purpose so that the subject matter (e.g. finance) can be given a greater focus to free up board room time to focus more on policy, strategy and organisation culture.
Board committees normally function independently from each other and are provided with sufficient authority, resources, and assigned responsibilities in assisting the entire board. Committees address relevant issues and make recommendations to the entire board for final approval.
Typical board committees are Audit and Risk, Finance, Nominations and Remuneration.