CGOV.5:4.1 - Identify the needed contribution and permitted alternatives

State the matter or recurring class of matters, the expected oversight result and its receiver. Recover any requirement concerning the committee’s existence, composition or powers. Use the corporation’s actual rules, including relevant listing or sector requirements; a committee found in another company’s charter is only a possible model.

Where alternatives are permitted, compare the existing board arrangement, a repaired committee, focused specialist support and a new standing or temporary committee. For a single acquisition, a temporary arrangement may be sufficient. A recurring audit responsibility may require a standing body under the applicable rules.

Return early if the current arrangement can supply the result under adequate conditions. A committee’s fashionable name is not a reason to create one.