The responsibilities of the board of a company as set out in modern governance standards include:
- providing entrepreneurial leadership of the company
within a framework of prudent and effective controls which enables risk to
be assessed and managed;
- setting the company's strategic
aims;
- ensuring that the necessary financial and human resources are in
place for the company to meet its objectives;
- reviewing management
performance;
- setting the company's values and standards;
and
- ensuring that its obligations to its shareholders and others are
understood and met.
The Guildhall approach to the development of strategy embeds good risk management and governance practices into management frameworks in order to support these aims.
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