Director FAQ: Financial Oversight Under Varying Economic Conditions

In brief: Financial oversight goes beyond consideration of financial reporting and internal control to include assessing and advising financial condition. 

This guide provides directors with valuable insights:

  • Helps directors interpret the balance sheet, income statement, and cash flow statement
  • Lists red flags for each statement
  • Suggests questions to ask in times of economic challenge, such as inflation and recession
  • Gives examples of finance committee charters
  • Provides a glossary of key economic and financial terms

Most relevant audiences: Directors, finance committee members, audit committee members, CEOs, chief financial officers