The obligation of recording minutes of a meeting of the board requires attention to details. Making sure that the minutes are accurate and reflect the board’s decisions and discussions will assist in the preservation of the company’s records and safeguarding directors from future liability issues.
You should record the date, time and the location of the meeting. This information will assist future readers identify where and when the meeting was held making sure they have all the information required for board reviews and legal proceedings. It is also important to record whether it was a special annual, regular, or a special meeting.
When recording discussions and decisions, avoid adding your own opinions or remarks to the minutes. This is important, especially when there was a heated discussion. It can damage the credibility of the board’s minutes. Vague descriptions of the meetings could open your board to liability, so be sure to stick to the facts.
Keep track of https://powerboardroom.com/how-to-create-psychological-safety-at-work/ any declarations of interest from directors or other individuals who was a participant in the decision-making process. This will prevent conflicts of interests from being overlooked or not being noticed in the future, and will promote a higher degree of accountability amongst board members.
If the board’s secretary or recording-taking member cannot attend the meeting, be sure to assign a replacement for these roles ahead of the time. This will help ensure that the minutes are recorded in an unbiased way and will have a consistent format. It will also help keep the board on track to create precise minutes for each meeting.
