Boards are constantly dealing with sensitive and confidential information, regardless of whether they are in government, business or nonprofit organizations. They have a fiduciary responsibility to safeguard the interests and stakeholders of shareholders, which is why they must be competent to discuss sensitive matters without fear of their discussions being publicized.
A secure portal for boards which is accessible only by people with the right password, is a vital way to safeguard the board’s sensitive documents. It can also be helpful to create policies for the safe storage and disposal of physical paper documents. Additionally, using a board application that allows secure sharing of documents can be a great way to ensure that access is not violated.
Although it may be obvious that you should avoid putting confidential information on public websites, a lot of organizations fail to take this precaution. This is especially true of board meetings. A leak of confidential data can harm the image of an organization and could have legal implications for the company and directors.
A confidentiality agreement is a vital tool for keeping secret documents private, however it can be www.dataroomabout.com/how-to-protect-confidential-documents-for-boards-committees-of-associations/ difficult to enforce. A confidentiality policy for a board should include clear consequences for those who violate the terms of the agreement, such as fines and discipline measures. In addition it should outline what kinds of information should be kept private and include security protocols such as encryption and the use of only approved platforms for communications.