Should the board delegate its functions to a subgroup of the board, to a subgroup of officers at management level and/or to external service providers, such delegated functions are well defined, documented, time bound and subject to review and approval by the board. Legislation, policy or decree provides for the responsibility of the board members for such delegated functions.
Guideline code
GG_00500
Mechanism
Mechanism
- The supervisory authority or external regulatory body should conduct regular and periodic reviews to ensure the responsibility of the board for its delegated functions.
Structure
Structure
- There should be a supervisory authority or external regulatory body to exercise oversight in ensuring the responsibility of the board for its delegated functions.
Title HTML
Guideline 2. Delegating powers and responsibilities of the board
Type
Guideline_1
Weight
9