Boards are constantly dealing with sensitive and confidential information, whether they are in government, business or non-profit organizations. They are required by law to safeguard the interests of shareholders and other stakeholders. Therefore, they should be able to discuss issues without fearing about their deliberations being publicly exposed.
A secure portal for boards which is accessible only to those with the correct password, is an essential way to protect sensitive board documents. It is also helpful to create policies for the safe storage and disposal of paper documents. In addition, using a boards application that allows secure sharing of files is a great method to stop access violations.
Many organizations do not take this step despite it seem obvious. This is particularly true for board meetings. Information that is leaked can cause damage to the reputation of an organization and can cause legal consequences for the company and its directors.
A confidentiality agreement can be a powerful tool to ensure that documents are kept private. However, it is difficult to enforce. A board’s policy on confidentiality should clearly define the consequences of breaking the agreement. This could include sanctions and fines. It should also specify the types of information that must be kept private and include security protocols such as encryption, and only use approved platforms for communication.
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