The Things About The Committee Report
The committee report is to require the board’s request to report the progress of a company. It is usually reported orally in front of the boards, executives, and investors when there is a board meeting. Although the report is delivered orally, it would be better if it is also in a print format.
What Is A Committee Report?
The report which is created by the committee is about the matters related to the business or other things under the committee’s charge. It is a kind of business communication between the committee and the board of a company since it contains the facts about the company’s each aspect, especially about financial health.
The committee report can be used to implement the ideas agreed in the meeting, the investigation of the irregularities, improvement of the standards until assessing the improvement scopes in each area of the company. The approach of the committee could be considered as the most valuable one.
1. The components of a committee report
The report of the committee includes several aspects to give a clear perception of a company.
- It contains the names of the committee that compose the report. There should be the names of the board members.
- The last meeting date and the date of the proposed meeting should be mentioned in the report.
- The report describes the actions that have been completed by the committee, as well as the actions in progress. This information is valuable for the board to understand the development the committee takes.
- In each meeting, the committee usually announces new things. So, there should be the announcements section as the guideline and reminder for the committee.
- A committee report needs to state the questions about the things that confuse the committee for the board, which may lead them to new policies.
- There should be an additional note which cannot be put in the previous sections mentioned.
2. The purpose of the committee report
The function of a committee in a company is to make a particular analysis of the problems. It also to make decisions based on the result of the investigation. The report they make contains those analyses which are to be communicated to the board.
The report is written in detail so that it covers everything about the analysis and what the committee did during a specific period. Besides communicating with the board, it is used by the management to make decisions for people under it.
The committee report can be to take disciplinary action for the employees and to promote the next CEO of the organizations.