Appendix H: Board responsibilities

The role of the Board includes, among others, the following activities:

• Appoint the CEO.
• Ensure that the firm has an appropriate strategic plan and oversee and monitor the firm’s direction as it relates to the plan.
• Annually assess the CEO’s performance, approve their goals for the ensuing year, and review their compensation plan.
• Receive and review continuous reporting from the CEO.
• Establish and monitor policies for the firm.
• Hear any appeals from partners as provided for under the Partnership Agreement and Board policies.
• Oversee good financial and cultural governance (including setting the tone from the top on culture and ethics).
• Set and monitor high standards for quality, independence, and responsible business that meet or exceed regulatory requirements.
• Review monthly financial statements and approve annual financial statements.
• Review and approve computations and distributions of profit.
• Approve the firm’s annual budget and business plans.
• Appoint the nominating committee and other committee members as provided for in Board policies.
• Conduct annual general meetings and special general meetings.