The minutes of board meetings are an important instrument for promoting transparency, accountability, and risk-reduction. The way that your minutes are recorded can make or break their effectiveness. If they’re needed in the future for legal reasons, unorganized, inaccurate or unclear minutes of board meetings could be a liability. This is why it’s vital to understand what must be included and what’s not included.
The date, time and location The information provided will ensure that the minutes are an accurate record of the meeting. You’ll also need to know whether it was an ordinary, special, or annual meeting.
Include the most important aspects of any reports that Get the facts https://localdataroom.com/private-equity-deal-management-and-due-diligence-software/ were presented to the board, as well as any alternatives that were considered when making important decisions. It is also important to record the outcomes of the decision-making process, including any votes taken.
Attendance: Having a regular person take minutes at each meeting, and having a backup in case they’re absent, will result in more precise minutes. It’s also helpful to use previous minutes as templates, so that a new minute-taker is comfortable with the procedure.
Be objective – not the emotional drama Avoid personal critiques, arguments or disagreements, and political commentary out of your minutes. You should also eliminate insignificant chatter, jokes, and news recaps. It’s also important to document any modifications to the minutes.
