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- How to Ratify Decisions Made Outside of Board Meetings
Decisions can be ratified during a meeting by a formal motion or, for smaller boards of up to a dozen members, by casual agreement Either way, the approval must be explicitly documented in the meeting minutes, which serve as the official record Documenting Ratification by Formal Motion
- Appointment of Statutory auditor still requires ratification . . .
Provided that the company shall place the matter relating to such appointment for ratification by members at every annual general meeting: Now during a single term of 5 years, there shall be no requirement for ratification of the appointment of an auditor
- Ratification of Past Actions Without Formal Minutes
Ratification validates and formalizes past unauthorized actions lacking official meeting minutes Conduct a formal meeting to review, discuss, and approve previous undocumented decisions Document the ratification process thoroughly to ensure legal and compliance validity
- Approval of meeting minutes: Examples and best practices
Approved meeting minutes become part of the legal record for any given board meeting and can, as such, be used to hold the board accountable to regulators or even to the courts Here, we’ll explain how to integrate the approval of meeting minutes into your board room, including:
- Whats Important When it Comes to Documenting Board Minutes . . .
If your organization’s financial statements are audited, board minutes are important to the year-end audit The auditors will request copies of the meeting minutes for the year under audit, and any subsequent minutes until the audit opinion is issued
- 8 THINGS TO KNOW ABOUT BOARD MEETING MINUTES
[1] If the Board is considering a number of different resolutions at a meeting, it may be more appropriate to include all resolutions in an annex or exhibit to the minutes and use the minutes to reflect the discussion relating to the resolutions (and then cross-reference the resolutions in the annex or exhibit as having been approved)
- SECRETARIAL STANDARD ON MEETINGS OF THE BOARD OF DIRECTORS
The Company Secretary in Practice appointed by the company, the Secretarial Auditor, the Statutory Auditor, the Cost Auditor or the Internal Auditor of the company can inspect the Minutes as he may consider necessary for the performance of his duties
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