Latest Policy Statements from the ICD
As set out in this paper, the Institute of Corporate Directors believes that the boards of directors of Canada’s listed companies should directly engage with their significant investors on matters of corporate and board governance.
In overseeing the financial reporting process, including the work of the external auditor, audit committees play a vital and integral role in the financial reporting of public companies.
Directors of Ontario companies must be allowed to exercise their fiduciary duty with clear understandings of the applicability of their due diligence defences and the limits to their liability.
This letter is submitted on behalf of the Institute of Corporate Directors (“ICD”) in response to the invitation to comment on the CSA’s proposed amendments to Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids (MI 62-104) and changes to National Policy 62-203 Take-Over Bids and Issuer Bids (NP 62-203) (collectively, the Proposed Bid Amendments).
In this paper we seek to provide a framework for boards to build a renewal process that increases accountability and achieves the right mix of skills and experience to create long-term effectiveness.