Audit committee meets to oversee the reporting and disclosure process of an organization

Family ownership versus boards of directors: roles and responsibilities

Baker Tilly provides insights on family business ownership and how the ownership group interacts with board members in order to achieve success.

Family-owned businesses without clearly defined roles and responsibilities for the ownership group, board and management can create confusion among each group and, in turn, cause the company to suffer from lack of vision or clear direction. Through knowing how each of these groups interact with each other and how their roles and responsibilities differ and overlap, the board and management can help the ownership group achieve their objectives and set the company up for continued success.

By utilizing this white paper, family ownership groups can learn how to effectively define each role and responsibility to set their company up for success for generations to come.

For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Gary A. Plaster
Business interconnectivity
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