A board skills audit is an important tool to assist a board identify areas in which it might require additional skills, knowledge and expertise.
In an immediate sense, this might mean that a board needs to find an alternative way to address that need, such as by engaging advisors with the requisite expertise, and/or developing existing directors.
In a strategic sense, boards use a board skills audit as a tool in recruiting new directors to meet identified skills gaps and longer term board succession planning.
In particular, board skills audits assist boards to:
- identify the skills which ideally the board should collectively hold
- identify the skills which collectively the board currently holds
- identify board skill gaps.
Using a consultative assessment process, Directors Australia conducts confidential and objective board skills audits for a range of organisations.