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Formal corporate governance mechanisms such as codes and regulatory frameworks alone will not guarantee accountable and effective boards. This is because governance does not occur in a social vacuum, a reality that often gets overlooked.

The shared history of director interactions on a given board (characterised by behavioural norms and routines that shape the expectations and conduct of members), fundamentally affects how accountability is actually practised in and around the boardroom.

How can NEDs become more conscious of the invisible effects of this history on independent mindedness and on the proper contest of ideas?

Read our paper from guest writer Dr.Meena Thuraisingham, author of “Identity, Power and Influence in the boardroom” (Routledge, 2019) who believes a more nuanced understanding is required of how accountability is accomplished through expectations, norms and relationships, not just among regulators but also across the director community: ‘Building accountable boards’