Oireachtas Joint and Select Committees
Thursday, 14 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Richard Burrows:
Yes, I think, Chairman, it's a two-way street. Non-executive directors have the right to receive the information from management as you described. But they also have the responsibility to look for information from management, either individually or collectively, and that happens at board meetings where non-executive directors have a responsibility to challenge management. This happens particularly in the area of strategy or, indeed, tactics from time to time, but also can require management to produce specific reports on situations which arise or to cause external advisers to be brought in if that's necessary. So it's a two-way street.
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