Oecd legal Instruments

V.F. 
In order to fulfil their responsibilities, board members should have access to accurate, 
relevant and timely information. 
Board members require relevant information on a timely basis in order to support their decision-making. Non-
executive board members do not typically have the same access to information as key managers within the 
company. The contributions of non-executive board members to the company can be enhanced by providing 
access to certain key managers within the company such as, for example, the company secretary, the 
internal auditor, and the head of risk management or chief risk officer, and granting recourse to independent 
external advice at the expense of the company. 
In order to fulfil their responsibilities, board members should have access to and ensure that they obtain 
accurate, relevant and timely information. In cases when a publicly traded company is the parent of a group, 
the regulatory framework should also ensure board members’ access to key information about the activities 
of its subsidiaries to manage group-wide risks and implement group-wide objectives. When board 
committees are established, efficient mechanisms should be put in place to ensure that the entire board has 
access to relevant information. At the same time, the regulatory framework should maintain safeguards to 
ensure that insiders will not use such information for their personal gain or that of others. Where companies 
rely on complex risk management models, board members should be made aware of the possible 
shortcomings of such models. 
V.G. 
When employee representation on the board is mandated, mechanisms should be 
developed to facilitate access to information and training for employee representatives, so that this 
representation is exercised effectively and best contributes to the enhancement of board skills,