Click on the following link for good comments from the NACD Blog about boards overseeing strategy and risk. NACD Blog.
The NACD comments aren’t particularly new and they don’t cross new ground. They do tend to confirm that generally there aren’t specific criteria to meet. When I refer to “specific criteria” I mean for example such as the point by point criteria that you might find in an audit program. However, for some industries with respect to some strategy, governance and risk issues there can be specific requirements, or example in banking and financial services, and in oil and gas drilling and exploration about which I have previously written.
Enjoy, Dave Tate, Esq. San Francisco and California.