It doesn’t matter if it’s for business, government or nonprofit organizations, boards deal with confidential and sensitive information on a regular basis. They are accountable to protect the interests and interests of shareholders, so they must be competent to discuss sensitive matters without fear of their discussions being revealed to the public.
A secure board portal that can only be accessed by those who have the appropriate password, is a vital way to safeguard the board’s sensitive documents. It can also be helpful to develop policies that ensure the safe storage and disposal of physical documents. In addition, using a boards app that allows secure sharing of documents can be a great solution to avoid access violations.
Many organizations do not follow this advice even though it could appear obvious. This is especially true of board meetings. A leak of confidential information can damage an organization’s image and may be legally liable for the company and directors.
A confidentiality agreement is a key instrument to keep secret documents private, however it can be difficult to enforce. A policy of confidentiality for a board should clearly define the ramifications for violating the agreement. This could include penalties and disciplinary action. In addition, it should define what kinds of information should be kept private and include security protocols like encryption and the use of only approved platforms for communications.