Board effectiveness has become an area of focus for investors and other stakeholders over the recent past, mainly due to the recognition that a highly performing Board is key to the success of any organisation. For a Board to be effective, it must embrace tools that help it to continuously improve. One of these tools is Board evaluation, which has been hailed as a “health check” for Boards and recognised through various governance codes over the years.
Board evaluation provides an objective framework for analytical feedback to the Board and an opportunity to step back, review its policies, practices and culture. The evaluation typically examines the Board structure and composition, Board practices, procedure of Board meetings, accountability and risk management, information and communication and Board dynamics and functioning.
Dorion Associates provides Board evaluation services to various clients with the objective of assisting the Boards to improve on Board performance and effectiveness. The evaluations encourage Boards to reflect on their performance, identify and capitalize on their strengths and institute mitigation actions to close any gaps. The evaluations further assist the Boards to enhance their working relationship with Management by promoting a healthy balance of power between the Board and the Chief Executive Officer.
Our Board Evaluation tools comprise a tool for the Board as a whole, Chairman, Chief Executive Officer, Individual Directors, Company Secretary and each of the committees. We use both quantitative and qualitative tools in order to enhance objectivity and ensure balanced results and outcomes.