Typically, the stewardship responsibilities of a board of directors include the identification of an organization’s principal risks, the implementation of systems to manage them, and the integrity of internal control and management information systems. Typically, an internal audit function plays a key role in assessing and reporting on these areas.
Hiring even the lowest-level employee can be tricky, and hiring the wrong person is bound to cause trouble. So imagine the potential problems that a board of directors must avoid when hiring a new chief executive officer. What does the company want from a CEO? Does the candidate have the right skills, connections and personality to fit the job and the company? Does the applicant's education meet the needs of the company?
Everyone exaggerates their accomplishments on their résumé, right? You say, "Executive Assistant," when you really mean "Assistant to the Executive Assistant." You say you were involved with a project that increased profits, improved worker productivity and reduced injuries, when you mean you were accidentally invited to a meeting where the project was discussed. You say you got a university degree that you did not. The last one happened recently in a big way...
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