The passing of the Sarbanes-Oxley Act has placed significant legal and financial responsibility on the board of directors to ensure that they fulfill their fiduciary duty to the corporation and has driven many companies to increase the number of outside, independent directors on the board.
The "Read Receipt" of documents by the directors is often a legal record that external auditors require.
Board portals provide the following features: Board portal software has a role to play in supporting the information sharing, decision making, risk management and accountability that comes with good governance.
Governance software provides a single platform for managing board and committee meetings, risk, decision making and other governance-related activities.
It provides an overview of governance throughout the organization and its shareholders, helping identify issues and drive improvement.