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Four strategiesfor betterboard reporting
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Board members need candor and insight from managementon the challenges they face.
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New laws, regulations,and stock exchange requirements
have put more responsibilityon boards and committees.
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Experts advise these four strategiesfor management to best help
the board fulfill its role.
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The time needed to compile board books o�en means they're outdatedby the time board meetings occur.
Go paperless1.
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The time needed to compile board books o�en means they're outdatedby the time board meetings occur.
Ensuring the board has current information is key to good conversations.
Go paperless1.
workiva.com
The time needed to compile board books o�en means they're outdatedby the time board meetings occur.
The move to digital technology allows executives to distribute up-to-the-minuteinformation at any time.
Ensuring the board has current information is key to good conversations.
Go paperless1.
workiva.com
The time needed to compile board books o�en means they're outdatedby the time board meetings occur.
Go paperless1.
It allows board members to quickly understand what is happening and offermore meaningful advice.
The move to digital technology allows executives to distribute up-to-the-minuteinformation at any time.
Ensuring the board has current information is key to good conversations.
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Setting an effective agenda should be a partnership between senior managementand the board.
Get on the same page 2.
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Setting an effective agenda should be a partnership between senior managementand the board.
Understanding senior management’s perspective benefits the board and allowsfor more effective oversight.
Get on the same page 2.
workiva.com
Setting an effective agenda should be a partnership between senior managementand the board.
Important developments and key issues that management sees should be built into the conversation.
Understanding senior management’s perspective benefits the board and allowsfor more effective oversight.
Get on the same page 2.
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Setting an effective agenda should be a partnership between senior managementand the board.
Awareness of current and future challenges and opportunities can increase the board’sconfidence in management.
Important developments and key issues that management sees should be built into the conversation.
Understanding senior management’s perspective benefits the board and allowsfor more effective oversight.
Get on the same page 2.
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To tell the complete story of a portfolio, there must be consistent methodology,objectives, and reporting against those objectives.
Be complete and consistent3.
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To tell the complete story of a portfolio, there must be consistent methodology,objectives, and reporting against those objectives.
Metrics for the whole business should roll up for analysis. If they don’t make sense,it should be discussed.
Be complete and consistent3.
workiva.com
To tell the complete story of a portfolio, there must be consistent methodology,objectives, and reporting against those objectives.
Sparking the conversation around the right topics results in better meetings andoverall position of the company.
Metrics for the whole business should roll up for analysis. If they don’t make sense,it should be discussed.
Be complete and consistent3.
workiva.com
To tell the complete story of a portfolio, there must be consistent methodology,objectives, and reporting against those objectives.
A board book is a catalyst for discussion. Without a complete picture, you can't havethe right discussion.
Sparking the conversation around the right topics results in better meetings andoverall position of the company.
Metrics for the whole business should roll up for analysis. If they don’t make sense,it should be discussed.
Be complete and consistent3.
workiva.com
Just providing the board with financial statements is not enough—what really mattersis how you got there.
Create analysis that informs4.
workiva.com
Just providing the board with financial statements is not enough—what really mattersis how you got there.
Beyond strategy and metrics, the board wants to know:What has happened? What were the key value drivers? What were the sensitivities?
Create analysis that informs4.
workiva.com
Just providing the board with financial statements is not enough—what really mattersis how you got there.
In addition to financial information, so� information should be top of mindand addressed by management.
Beyond strategy and metrics, the board wants to know:What has happened? What were the key value drivers? What were the sensitivities?
Create analysis that informs4.
workiva.com
Just providing the board with financial statements is not enough—what really mattersis how you got there.
So� information includes hiring rates, turnover, productivity, employee morale, and culture.
In addition to financial information, so� information should be top of mindand addressed by management.
Beyond strategy and metrics, the board wants to know:What has happened? What were the key value drivers? What were the sensitivities?
Create analysis that informs4.
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To fulfill its oversight role properly, a board must understand the critical informationavailable to management and the process that management goes throughto make key decisions.
Here's the bottom line
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To fulfill its oversight role properly, a board must understand the critical informationavailable to management and the process that management goes throughto make key decisions.
Management must help the board understand:
• What’s driving current performance• What key performance indicators will help predict future financial performance
Here's the bottom line
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To learn more about thesestrategies, view our white paper:
Board Reporting Trends and Best Practices in the Digital Age.
