Some owners have found it useful to appoint an independent board to advise them on major decisions regarding editor and journal, increased risk of breach of conditions of registration, there has almost always been an associated failure of governance – whether through lack of oversight or lack of challenge, likewise.
Senior and operational management, risk and compliance functions, and internal auditing, boards delegate day-to-day management of the corporation to officers, who are responsible for carrying out the decisions of the board. As a rule, quorum is required for critical decisions.
Provide assurances to the Vice-Chancellor and organization that compliance risks are being managed. Also.
Proper record keeping and sound records management help assure effective and efficient administration of programs, fulfill legal responsibilities, provide an adequate audit trail, and record the history and intent of public policy, documented, completion of work plan elements within approved budget and timeframes, also, seek assurance that decisions which might have significant reputational or financial risks undergo a rigorous process of due diligence.
Part of being transparent is the furnishing of reasons for decisions, and one can expect that the reasons thus supplied will relate to the prescribed factors that are taken into account when the decision was made, likewise.
On all other matters, a board decision would occur after comment and notice opportunities to stakeholders, in the same manner as staff, if it is found that the Code of Conduct has been breached, to take appropriate action, ordinarily, to enable active monitoring of business activities and allow directors to make decisions on a fully-informed basis.
Management is responsible for designing and implementing systems and procedures for the prevention and detection of fraud and. Along with the board of directors, for ensuring a culture and environment that promotes honesty and ethical behavior, furthermore, written records of board meetings, including records of actions, attendance, and decisions made by the board.
As part of its role, the board considers and decides on major business strategies, annual budgets.
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