According to EY, “dynamic” corporate governance that addresses the board’s expanding and evolving oversight responsibilities is among the four suggested board priorities for 2022. Each of the enumerated priorities – with strategy & innovation, risk and resiliency, and talent oversight rounding out the list - is accompanied by relevant benchmarking data, targeted questions, and links to additional resources aimed at facilitating meaningful discussion and integration into the board's oversight responsibilities.
As to corporate governance specifically, the report suggests boards evaluate and evolve their practices relating to a host of governance essentials that include: (i) ongoing director education; (ii) board key committee structure and consideration of ad hoc committees (which may include management and/or third parties) to address specific strategic issues; (iii) human capital, sustainability, and corporate political activity oversight; (iv) shareholder engagement strategy and activism preparedness; (v) management’s reporting of emerging risks; (vi) director recruitment process and board diversity; and (vii) board meeting agendas and formats.
The questions are summarized by theme at the end of the report.
Access additional resources on these and other practical resource pages: Board/Director Education, Board Committees, Advisory Boards, Special Board Committees, Human Capital/Workforce Management Sustainability Political Contributions and Disclosure Shareholder Engagement Shareholder Activism Risk Management & Oversight Board Recruitment & Succession/Refreshment Board Diversity Board Agenda/ Meetings.
This post first appeared in the weekly Society Alert!