Corporate governance requires active board oversight

Corporate transparency begins within the Board of Directors, moving beyond mere financial statements and management reports to the quality of internal deliberations. While board membership is often viewed as a prestigious position, it carries the heavy responsibility of managing third-party interests, which requires more than just attending meetings and voting.

According to the 2023 revised Corporate Governance Principles of the G20 and the OECD, fundamental responsibilities of a board include strategic orientation, management supervision, and accountability. Directors are expected to act with full knowledge, diligence, and loyalty. Although they do not manage daily operations, they must ensure mechanisms exist to monitor organizational performance and identify risks. True governance involves understanding, contrasting, and questioning information rather than simply receiving it.