Boards are accountable to establish the strategy of the company, supervise management and ensure that the company's strategy is in the best interests and stakeholders of shareholders and other stakeholders. They are also responsible for addressing conflict between management and the shareholders in the event of disputes about compensation or disagreements regarding the direction of the company.

As part of the many responsibilities that boards must complete, they are often called upon to provide guidance and assistance to the management team by providing them with guidelines and resources, like approuving new marketing initiatives or allocating additional resources. They are also involved in determining the risk appetite of the company and implementing a strong risk management plan. They also need to ensure that internal controls function effectively.

The board also has to ensure that all legal requirements are fulfilled, and that board portals for nonprofits the company is in good standing with regulators. This is a daunting task that requires coordination with other committees, including audit and compliance.

The board should also aid in the development of an enduring culture through setting a positive example for all employees. This is particularly crucial in the current environment where corporate behaviour is being scrutinized more than ever.