Companies should have and disclose a board skills matrix that sets out the mix of skills that the board currently has or is looking to achieve in its membership. This is according to the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations.
Larger listed companies have been using a board skills matrix of some description for a number of years to assess the current skills, background and experience of those on the board and to identify any gaps that may exist.
Disclosing the board skills matrix has the incentive of increasing the accountability of the board in ensuring it has the skills to add value and meet its obligations.
The AICD has prepared some simple guidance, as well as a template Board Skills Matrix example to assist you with the preparation of your board’s Board Skills Matrix.
Download the tool to read more.
Latest Director Tools
This is of of your complimentary pieces of content
Already a member?
Login to view this content