Although a board of directors has formal governance responsibilities, its most useful role is to provide guidance and support to the firm's managers.

Question

Quizplus · Accepted Answer

The statement correctly describes the primary role of the board of directors, which is to offer direction and assistance to the management team. While the board has critical duties related to oversight, compliance, and risk management, its ability to provide strategic insight and advice to the business is one of its most significant assets.

Although a Board of Directors Has Formal Governance Responsibilities, Its