A board of directors refers to a team of individuals tasked with the duty of overseeing the long-term operations of a company. Therefore, t he board should develop sound long-term strategies for the company, set the standards by which the daily activities of the company shall be performed as well identify new partners to join the firm ( Adams et al., 2010 ). Furthermore, it supervises the effective implementation of various activities in line with the vision and mission of the firm . Our Strategic Audit firm consists of six members. However, t wo of t he six are internal while the rest are external.
One of the external directors is from England. He was first elected to the board in the year 2006 and has since been re - elected for a second term. O n the board , he represents the National Union of Accountants and Auditors. He is an integral part of the board and serves on the Governance and Compensation committees. The second external director, who is an American citizen, was elected to the board in 2010. In the six years that she has served the firm, she has proven herself as a capable leader and decision maker. Due to this reason , besides being on the board, she chairs some crucial committees . These include Finance, Business Development, and Technology. She represents the local business community.
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The third member of the board is an American , who joined the board in 2014. Apart from representing the interests of the academia , he is also a member of various committees . These include Compensation and Governance where his expertise in a broad range of business strategies has been essential in moving the organization forward. Finally, the board is also occupied by an Australian who is the longest-serving external director having been elected in 1998. He represents the international body of auditors and also serves as the vice president of the board. With his extensive experience, he sits on multiple committees including Finance, Governance, and Business Development .
References
Adams, R. B., Hermalin, B. E., & Weisbach, M. S. (2010). The role of boards of directors in corporate governance: A conceptual framework and survey. Journal of Economic Literature , 48 (1), 58-107.
