this question asks where the board of directors failed to meet their governance standards/requirements
In the second vignette paragraph it states that they had a board meeting for the first time in 6 months
The answer to the Q is that the board doesn't meet often enough.
I have looked all over to find why, but the closest thing I have found in the chapter is
""meet frequently enough to adequately perform its duties and meet in extraordinary session as required by clients"
Is there a CFAI guideline i overlooked like maybe quarterly and 6 months is too long or did they fail because they didn't have an extraordinary meeting to "welcome" the new CEO and outline her responsibilities, etc..."?
Edited 1 time(s). Last edit at Thursday, April 29, 2010 at 07:44PM by rolo550.
