GOVERNANCE AUDIT:
More comprehensive, longer-term engagement, of immense value to larger organizations.
See below.

GOVERNANCE REVIEW:
More elementary, shorter-term engagement, pragmatic for smaller organizations.
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What is a Governance Audit?

Simply stated, a Governance Audit is a comprehensive assessment of your organization’s operational effectiveness, accompanied by a documentation of findings and recommendations. More specifically, it involves the quality of your leadership – the board, and a diagnostic review of key governance practices, policies, relationships, and communications. Through a relationship between Board Veritas and an expert legal counsel, the Veritas Report offers confirmation of critical elements of governance structures or processes that are effective and identification of these that need to be addressed.

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Why Have an Audit?

  • To demonstrate status and performance to internal and external stakeholders
  • As leverage in the recruitment of new board members
  • As a diagnosis that can by used by change agents looking to improve the organization
  • As a means of providing accountability and transparency to membership in membership-driven organizations
  • To address compliance concerns or lapses
  • To increase the confidence of investors or donors
  • As a tool to align mission, governance practices and organizational culture

How a Governance Audit Works

Our proprietary Governance Audit process is both proven and unparalleled in the industry. It happens in two phases:

In the first phase, we complete a comprehensive evaluation of the quality of your key governance practices. This involves document review, director and management interviews, board meeting observation, board-staff communication, and reviewing examples from recent history and habits.  To aid in benchmarking, we will also administer an online board self-assessment that is highly detailed.

In the second phase, we compile the findings, our observations and recommendations into a detailed report – THE VERITAS REPORT. Our analysis goes beyond structures and practices to delve deeply into an understanding of complex board dynamics. This report is then presented, in person, to the board or designated leadership recipient.

Clients who engage BOARD VERITAS for a Governance Audit often retain us for Training / Coaching / Consultation as well. We can assist the organization hands-on in the implementation of any recommended strategies and best practices.

Who needs a Governance Audit?

Any organization that has existed for 5+ years, has achieved a reasonable degree of stability, and / or has reached $1M+ annual budget is best suited for Governance Auditing. For such organizations, we recommend that an audit be completed every 3 years.

What is a Governance Review?

A Governance Review is a more synoptic assessment of your organization, similar to a checkup or inspection. Results of a review might include a gap analysis, benchmarking, and recommended steps to achieve their objectives. It is often complemented with Training / Coaching / Consultation, wherein BOARD VERITAS helps the organization competently move toward their goals.

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A Governance Review is a great tool for smaller organizations who are:

  • Trying to figure out their strengths and challenges
  • Aiming to make some quality improvements
  • Recruiting new board members
  • In need of help from their board to increase capacity

A common scenario in which a Governance Review is ideal is one where a board consists largely of new, young, or first-time board members. Combined with training, the review can be used to educate the board members about how to be better directors. We can also help acclimate them to their roles and responsibilities.