Here are some common types of board committees and their functions:
Audit Committee: Responsible for overseeing financial reporting, internal controls, and the audit process. They ensure the integrity of financial statements and compliance with legal requirements. Compensation Committee: Handles executive compensation, benefits, and performance evaluation. They align executive pay with company performance and shareholder interests. Governance Committee: Focuses on board composition, succession planning, and adherence to governance policies. They ensure the board operates effectively and ethically. Nominating Committee: Responsible for identifying and vetting potential board members. They ensure the board has the right mix of skills and experience.