Performance Audit Questionnaire for a Board of Directors

Performance Audit Questionnaire for a Board of Directors

A question was recently put in a discussion group, whether there exists a simple, yet powerful tool for a quick assessment of the performance of a Board of Directors by Auditors.

One generic example I have used is noted below.

Performance audit questionnaire of the Board of Directors

Seq. No.	Description
1	Have the needs and requirements of the various stakeholders and members of the board of directors (BOD) been defined?
2	Are high levels of corporate ethics maintained?
3	Does the BOD ensure short-term financial stability?
4	Does the BOD ensure long-term financial stability ?
5	Does the BOD ensure long-term success of corporate and business-related changes?
6	Does the BOD ensure high level of corporate governance and accountability?
7	Does the BOD supervise the setting up and operation of  an effective risk assessment and management system?
8	Does the BOD supervise the setting up and operation of  an effective crisis assessment and business continuity management system?
9	Does the BOD ensure that an effective internal audit and corporate compliance management system  is in place?
10	Does the BOD ensure that an effective corporate performance management system  is in place?
11	Does the BOD review and approve all business plans, organizational and restructuring plans and major investments?
12	Does the BOD ensure that an effective corporate management system  is in place?
13	Does the BOD ensure that an effective corporate management succession system  is in place (particularly for the senior positions of CEO, CFO, CTO, CIO, General Management of divisions, etc. )?
14	Does the BOD ensure that an effective BOD skills- training  system  is in place?
15	Does the BOD ensure that all IT systems, data centers, etc., are operated effectively and serve all critical business functions?
16	Does the BOD ensure that an effective corporate management research and development system  is in place?