By Mary Arnold
I had an ah-ha moment yesterday morning during CUES' DLI: Governance institute when Terrol Inniss, board secretary for Barbados Public Workers' Co-operative Credit Union Ltd., pointed out that it isn't enough for directors to ask the right questions in their oversight of their credit unions; they must also be able to determine if they're getting the right answers.
Consulting with experts and looking at benchmarks are two ways to make this determination, suggested Richard Powers, lead faculty for DLI: Governance at the University of Toronto's Joseph L. Rotman School of Management.
If you're a director, I'd like to hear what your board does: Do you stop at asking the right questions? Do you bring in experts? How do you tell if you're getting the right answers?
Mary Arnold is VP/publications for CUES.
