What to keep in mind
Review committee roles, access to information, board materials, minutes and the handling of sensitive transactions.
A formal independent title cannot substitute for actual scrutiny and diligence.
Distinctions often confused
Independence from management is distinct from immunity from liability.
Frequently asked questions
Can an independent director request further documents?
Within their statutory rights and responsibilities, appropriate information should be sought.
Are independent directors responsible for board decisions?
They may be, according to their conduct and the applicable liability regime.
Informational content. It is not a substitute for professional advice.