Future Mandates for the Three Standing Committees
In brief: The future of leadership will impact not only lead directors but committees as well. Directors should consider the potential future state of board committees which call for an updated mandate in each of the three key committees. This tool highlights new potential focus areas for key committees.
Most relevant audiences: board chairs, lead directors, nominating and governance committee chairs, audit committee chairs, compensation committee chairs
HOW TO USE THIS TOOL: The future of board leadership will impact not only lead directors but also committees. Directors should consider the potential future state of board committees, which calls for an updated mandate. Below are potential new focus areas for the three standing committees.
Increased focus on how the company manages data security, compliance, cyber risk, major IT investments, and other “defensive” IT risks
A stronger grasp of how tech innovation and digital disruption are informing risk management and the internal control environment
Increased focus on the tone at the top, incentives, and the culture of the organization, including the effectiveness of companies’ ethics and compliance programs