Operate board responsibilities per OECD/G20 Principles Chapter VI. The corporate governance framework should ensure the strategic guidance of the company + the effective monitoring of management by the board + and the boards accountability to the company and the shareholders. Board members should (a) act on a fully informed basis + in good faith + with due diligence and care + in the best interest of the company and the shareholders + (b) where board decisions may affect different shareholder groups differently the board should treat all shareholders fairly, (c) the board should apply high ethical standards and take into account the interests of stakeholders, (d) the board should fulfil certain key functions including (1) reviewing and guiding corporate strategy + major plans of action + risk management policies and procedures + annual budgets and business plans + setting performance objectives + monitoring implementation and corporate performance + overseeing major capital expenditures + acquisitions + and divestitures + (2) monitoring the effectiveness of the companys governance practices and making changes as needed, (3) selecting + compensating + monitoring + and where necessary replacing key executives and overseeing succession planning, (4) aligning key executive and board remuneration with the longer term interests of the company and its shareholders, (5) ensuring a formal and transparent board nomination and election process, (6) monitoring and managing potential conflicts of interest of management + board members + and shareholders + (7) ensuring the integrity of the corporations accounting and financial reporting systems + including the independent audit + appropriate systems of control + (8) overseeing the process of disclosure and communications, (e) the board should be able to exercise objective independent judgment on corporate affairs.
This control maps to 2 controls across 2 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.
Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.
The graph holds this control, the 2 it maps to, and the evidence behind each claim, over MCP and REST.