|Information provided should include board papers and related materials, background or explanatory information relating to matters to be brought before the Board, and copies of disclosure documents, budgets, forecasts and monthly internal financial statements. In respect of budgets, any material variance between the projections and actual results should also be disclosed and explained.|
This Guideline describes the type of information that should be routinely provided to the Board.
In summary, the types of information include:
- Board papers for the agenda items at each Board meeting. Such Board papers are usually accompanied with background and explanatory materials. They can be for approval or for information.
- Disclosure documents. In today’s regulatory regime, the Board is required to make various types of disclosures. Any disclosures, including the annual report and SGX announcements, should be tabled at the Board’s meeting or circulated to directors prior to their release.
- Financial information. These include budgets, forecasts and other internal financial statements. For budgets, material variances between projections and actuals need to be highlighted and explained.
Although this is not an exhaustive list, by specifying the types of information here, the information flow from management to the Board becomes more efficient so that directors should not have to make excessive additional requests for materials (see Guideline 6.1).
B. SGX Disclosure Guide
C. Related Rules and Regulations
D. CG Guides
- Board Guide Appendix 6F: Board Control of Management [Board Relationships].
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