HC-1.2.3
Past version: Effective from 01 Oct 2010 to 31 Mar 2011
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The precise functions reserved for the Board, and those delegated to management and committees will vary, dependent upon the business of the institution, its size and ownership structure. However, as a minimum, the Board must establish and maintain a statement of its responsibilities for:
a) The adoption and annual review of strategy;
b) The adoption and review of management structure and responsibilities;
c) The adoption and review of the systems and controls framework; and
d) Monitoring the implementation of strategy by management.
October 2010