Division of responsibilities

Question 1

What is Principle F

Answer 1

CHAIR - OVERALL EFFECITVENESS
OBJECTIVE JUDGEMENT
Culture of openness and debate
Chair - board relations, effective contribution of all NEDs
Accurate timely and clear information

The Chair leads the board and is responsible for its overall effectiveness in directing the company. They should demonstrate objective judgement throughout their tenure and promote a culture of openness and and debate. The Chair facilitates constructive board relations and effective contribution of all NEDS, and ensures that directors receive accurate, timely and clear information

Question 2

Principle G

Answer 2

• Mix of Execs and Non-execs
• No one dominates
• Clear division of responsibilities

The board should include an appropriate combination of executive and non-executive (and independent and non-independent) directors, such as that no one individual or small group of individuals dominates the boards’ decision-making. There should be a clear division of responsibilities between the leadership of the board and the executive leadership of the company’s business.

Question 3

Principle H

Answer 3

Sufficient time
Constructive challenge
Strategic guidance
Specialist advice
Hold management to account

Non-executive directors should have sufficient time to meet their board responsibilities. They should provide constructive challenge, strategic guidance, offer specialist advice and hold management to account

Question 4

Principle I

Answer 4

Policies, processes information

The board, supported by the cosec, should ensure that is has policies, processes, information, time and resources it needs in order to function effectively and efficiently