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In the development of the Board Review, the AICD considered the AICD’s Company Directors Corporate Governance Framework™. The Framework provides a useful foundation for reference, grouping elements of corporate governance according to the most relevant party: the individual director, the board, the organisation and the stakeholder.
Unlike the AICD’s Governance Analysis Tool™, which is tied closely to the Framework, the Board Review includes a series of standalone ‘good governance’ statements from targeted areas with a board performance focus.
Your board members can assess board performance by considering key aspects of your organisation’s governance attributes against these statements.
The main areas of focus - developed by the AICD and based on its experience working with boards - include:
- The role, membership and dynamics of the board.
- The board’s approach to strategy and risk.
- The interaction between board and management.
The quality of board meetings and papers, the board’s approach to CEO arrangements and the role of the chair are among the other areas also assessed.
While the Board Review focuses mainly on the whole board, supplementary committee reviews can also be undertaken which examine the performance of the board’s individual committees.
A detailed written report is provided which includes analysis of survey responses (which respondents are invited to provide on an anonymous basis), including participant survey assessments, verbatims (redacted where necessary) and participant suggestions for improvement and future board discussion.
The report is designed to highlight the areas that are perceived by participants as governance strengths, and those perceived to represent potential opportunities for improvement, across the attributes being explored.
The areas of focus in the Board Review include aspects of:
- Individual directors (general aspects).
- The chair.
- Role of the board.
- Strategy and risk.
- Board membership.
- Board committees (general aspects).
- Board meetings.
- Information provided to the board.
- Board dynamics.
- CEO arrangements.
- Interaction with management.
- Culture and conduct.
- Budget and resources.
Your governing team of board members are provided approximately 75 ‘good governance’ statements and a small number of supplementary open-ended questions via an online survey. Each participant will be invited to assess key aspects of your organisation’s governance attributes against these statements using a maturity scale.
In addition, they are encouraged to provide comments, for instance, to facilitate insight into the specific circumstances of the governance area being assessed or reasons why a particular assessment rating is given.
It is possible to include your CEO or Company Secretary as part of the review or you can expand the review coverage to include your key executive group.
Individual results are collated, analysed and provided to the board in a report. As an extended service, boards can undertake an AICD-facilitated workshop to explore the findings in greater detail.
Simple and straightforward, the engagement includes an initial discussion to understand your review needs, followed by a formal proposal outlining the Board Review offering, including an indicative timetable and pricing based on your requirements.
Throughout the entire process you will be guided by an experienced member of the AICD’s Board Advance Team.
How Board Advance will work for you.
An experienced member of the Board Advance Team will guide you through a fully consultative process, working with specialist AICD facilitators and subject matter experts.
Expert governance assessments and development programs tailored to suit your board.
Data-driven diagnostics and insights to evaluate your board performance, benchmarked against contemporary governance standards.
Deliver better outcomes with ongoing assessment, identify emerging governance issues and measure improvement.
Stay ahead of the curve on emerging governance topics to support your board in risk and opportunity management.
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