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cycles of business
Cycles of Business
The timetable of governing body and committee meetings should be drawn up in such a way as to accommodate the key elements of the annual cycle of decision making and monitoring. In particular, a governing body should determine the nature and frequency of its requirements for management and financial information. This is helpful in:
- ensuring that during the year governors have an appropriate overview of matters relevant to their responsibilities;
- regulating and rationalising the overall demands made on senior management for information;
- reducing the number of ad hoc requests for data; and
- facilitating the forward planning of agendas.
The forward planning of meetings of the governing body is essential in order to:
- ensure that the sequence of meetings will allow the board to take key decisions at the appropriate time to support the institution’s strategic development and meet its statutory responsibilities;
- allow the senior management to plan the preparation of papers for consideration by the governors; and
- give members of the governing body adequate notice of when meetings will be held.
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