02 Nov Business Minutes Governance
How does a well-functioning business track its resolutions and matters arising?
What is the point of attending meetings when there is no tangible proof of why, how, when, and by whom a decision was taken?
Think “Zondo Commission” where at some point there was frustration with the lack of clearly approved and signed minutes which were needed as part of evidence.
It is important to have a clear record of decisions taken during meetings. This can only be done by professionals that are trained specifically in taking minutes.
Minutes are legal proof and can make a difference when a decision that was taken years ago is challenged. When you are a director, it is important to ensure that minutes are approved at a subsequent meeting and signed off.
In my two decades of being in the Company Secretary space, I have witnessed how the “Administration” part of the meeting is always held over for the next meeting and the next and the next…
This is a very dangerous practice with serious unintended consequences. Boards change, directors unfortunately die and are replaced. If that specific director is the one chairing the committee or a board, and there is a year worth of minutes to sign, in an otherwise divided board, it becomes one of the most difficult matters for a Company Secretary to resolve.
Why am I focused on this today? Because we provide excellent minute-taking services, either as a combination of meeting administration or as a stand alone. Give us a call for a quote and let us help you be compliant to this one important aspect of any business