Questions: Which governing body committee is delegated authority to act on behalf of the full board? - Finance committee - Long-range planning committee - Executive committee - Audit committee

Which governing body committee is delegated authority to act on behalf of the full board? - Finance committee - Long-range planning committee - Executive committee - Audit committee
Transcript text: Which governing body committee is delegated authority to act on behalf of the full board? - Finance committee - Long-range planning committee - Executive committee - Audit committee
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Solution

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Answer

The answer is Executive committee.

Explanation
Option 1: Finance committee

The finance committee typically focuses on overseeing the financial aspects of an organization, such as budgeting, financial planning, and financial reporting. It does not usually have the authority to act on behalf of the full board.

Option 2: Long-range planning committee

The long-range planning committee is generally responsible for developing and recommending strategic plans for the future. While it plays a crucial role in shaping the organization's direction, it usually does not have the authority to act on behalf of the full board.

Option 3: Executive committee

The executive committee is often delegated authority to act on behalf of the full board, especially in urgent situations or when the board is not in session. This committee typically consists of key board members and is empowered to make decisions that are later ratified by the full board.

Option 4: Audit committee

The audit committee is primarily responsible for overseeing the organization's financial reporting and disclosure processes, as well as the audit process. It does not typically have the authority to act on behalf of the full board.

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