Making minutes of the board meeting is a crucial responsibility that requires a keen eye. A clear and accurate record of the board’s decisions and discussions will aid in the preservation of the company’s records and protect directors from liabilities in the future.
It is important to record the date, the time and the location of the meeting. This information will enable future readers to pinpoint the how to take minutes at a board meeting location and time of the meeting and ensure they have all necessary information for board review or legal proceedings. It is also important to record whether it was a regular, special or annual board meeting.
Avoid adding your opinions or comments while recording discussions and deciding. This is particularly important in the event of a heated discussion. This could damage the credibility of the minutes. Be clear about the facts. The absence of clear and concise descriptions can expose your board to liability.
Note any declarations of interest from directors or any other person who participated in the decision-making process. This will prevent conflicts of interest from being overlooked or not being noticed in the future, and will encourage a higher level of accountability amongst board members.
If the secretary who is the main member of the board or member who records minutes is not able to be present, identify a substitute for these roles ahead of time. This will ensure that the minutes are taken in a fair manner and will have the same format. It will help keep the board on track to create precise minutes for each meeting.