Corporate Governance · glossary
A committee's written rules: what it does, who sits on it, and what, if anything, it may decide in the board's place. Only the board adopts or changes them (Schedule A, item 14). Schedules C and D of the charter hold the two committees' terms. Charter, Schedule C · Charter, Schedule D · Schedule A, item 14 · Chapter 2 · Chapter 7
Explained in Chapter 2, Matters Reserved and Delegation, of Corporate Governance.
The machinery items keep the board's own house in order. The risk appetite statement says which risks the company will accept, and the risk register lists the risks it faces. Terms of reference are a committee's written rules. D&O insurance pays a director's legal costs and damages if she is sued for what she did in office.Read Chapter 2, Matters Reserved and Delegation →
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