Sufficiently detailed and timely board reporting is a cornerstone of sound governance. It enables directors to make informed decisions, fulfil their oversight responsibilities, and ensure that the activities being performed day-to-day are aligned with the organisation’s strategic goals.

Given the onerous responsibilities of the board, it can often be a challenge to strike the balance in the quantity and granularity of information shared at board-level versus what will be received by the executive management team.

This article seeks to explore some of the key considerations for organisations when differentiating between the board’s and the executives’ information needs.

Differentiating between board and executive information needs

As discussed in our previous article on setting the boundary between board and executive management, the board and the executive management team operate at different altitudes within an entity. While executives are immersed in day-to-day operations, the board focuses on long-term strategy, risk, and accountability. As such, the frequency, format, and content of reporting should reflect these differences.

Board of directors

Frequency: Frequency of board meetings can vary between organisations, driven by their specific needs, typically on a monthly or quarterly cycle.

Level of detail: Strategic, concise, and focused on outcomes and risks.

Key content areas

• High-level summaries of performance, strategic delivery, and risk.
• Key performance indicators and trends.
• Strategic risks and mitigation plans.
• Regulatory and compliance updates.
• Major financial reports (e.g., quarterly/annual results).
• Board-level decisions (e.g., mergers and acquisitions, executive compensation, ESG strategy).
• Audit and risk committee reports.

Executive management team

Frequency: Weekly to monthly, often supported by real-time dashboards and more frequent informal updates (emails, ad-hoc calls and meetings).

Level of detail: Granular, operational, and actionable.

Key content areas

• Detailed operational data (e.g., sales, customer metrics, project updates).
• Departmental performance and resource allocation.
• Risk registers and incident reports.
• Compliance dashboards and audit findings.
• Internal controls and process improvements.
• People and culture metrics (e.g., turnover, engagement).

Guiding principles for effective information flow

To ensure reporting supports governance and performance, organisations should adhere to the following principles:

• Relevance: Tailor content to the audience’s role and decision-making scope.
• Clarity: Use visualisations, executive summaries, and structured formats to aid comprehension.
• Transparency: Ensure both the board and executives have access to accurate, timely data.
• Governance alignment: Reporting should reinforce risk management, compliance, and strategic oversight frameworks.

Addressing information asymmetry

Boards must be vigilant about potential information asymmetry, where executives may have access to more detailed or timely data than non-executive directors. This imbalance can hinder effective challenge and oversight.

Strategies to rebalance information flow:

• Ask for what you need: If the board is not receiving the information it needs, directors should request it proactively and input into defining ‘standard’ information in board packs.
• Leverage committee reports: Audit, risk, and remuneration board committees, along with any executive committees, can surface operational insights prompting further discussion at board.
• Use external information: Non-executive directors should educate themselves to have a degree of familiarity with the industry and peer organisations to complement what they are receiving in meeting packs.
• Encourage direct access: In addition to ensuring an open line of communication between the CEO and the chair of the board, non-executive directors should also have opportunities to engage with key executives and operational leads.

The role of the company secretary and governance team

The company secretary plays a pivotal role in shaping board reporting:

• Curating content: Ensuring reports are relevant, concise, and aligned with board priorities.
• Maintaining quality: Reviewing submissions for clarity, consistency, and completeness.
• Facilitating dialogue: Supporting the flow of information between the board and executives.
• Training and support: Helping directors interpret complex data and regulatory updates.

Conclusion

Board reporting is not merely a compliance exercise, it is a strategic tool that underpins effective governance. By differentiating the information needs of the board and executives, applying clear reporting principles, and addressing asymmetries, organisations can empower their directors to lead with insight and confidence.

Governance professionals have a key role to play in advising boards on how to structure and refine board reporting frameworks that support transparency, accountability, and strategic success.

For more information, please contact any member of our Governance and Consulting Services Group.

This is the third article in our ‘Elevating Governance’ series.

Read the first article of the series here: Setting the boundary between board and executive management

Read the second article of the series here: Why board composition is a strategic imperative