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12.3 - Manage relations with board of directors

PCF ID: 11012 | Elements: 3 | Metrics Available: N | Benchmarkable: 0

Definition​

Maintaining relations with representatives of the stockholders. Establish corporate management-related policies and to make decisions on major company issues. Implement practices designed to engender communication, trust, and cooperation.

Overview​

This process group covers manage relations with board of directors within the broader context of Manage External Relationships.

Process Hierarchy​

Processes​

IDProcessPCF IDSub-elementsMetrics
12.3.1Report financial results110420N
12.3.2Report audit findings110430N

12.3.1 - Report financial results​

PCF ID: 11042

Definition: Reporting financial results to management, and releasing results to the public. Report financial statements, including the income statement, balance sheet, and statement of cash flows.

12.3.2 - Report audit findings​

PCF ID: 11043

Definition: Reporting audit findings to management. Practice an internal audit with criteria for confirming a problem, a description of the situation, and the root cause of the problem. Make recommendations that resolve the issue.

Change Summary (v7.2.1 vs v6.1.1)​

Changes indicated by:

  • +XXXXX - New element added
  • -XXXXX - Element removed
  • cXXXXX - Element changed
  • NEW - Newly introduced

Complete Element List with Definitions​

All 3 elements
IDNameDefinition
12.3Manage relations with board of directorsMaintaining relations with representatives of the stockholders. Establish corporate management-relat...
12.3.1Report financial resultsReporting financial results to management, and releasing results to the public. Report financial sta...
12.3.2Report audit findingsReporting audit findings to management. Practice an internal audit with criteria for confirming a pr...

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