Best Board Practice® for Boards of Directors and Boards of Trustees

Since 2003, the Best Board Practice® label has been addressing changing requirements and certifies that, following a successful assessment, a company's board of directors, foundation board or association board carries out its work and organisation in accordance with these principles.

Now boards of directors and other strategic management bodies have a more up-to-date way of confirming that their work, composition and organisation comply with legal requirements and the principles of good governance.

Now, based on the needs formulated by the market, boards of directors and foundation boards can alternatively commission a one-off assessment (valid for one year, with certification) instead of the previous recurring assessment (every three years, with award of label).

Today's environment

The demands on the strategic management bodies of companies and organizations are constantly increasing. Today, legislators, shareholders and investors, as well as the general public, demand transparent, diligent performance of management duties and compliance with corporate governance principles.

Best Board Practice® supports the assurance of legal compliance and contributes to the continuous improvement of corporate governance. It reduces questions of responsibility and liability under board law to a minimum and creates transparency in all material matters.

The focus is also on ensuring the professionalism, efficiency and effectiveness of strategic corporate management. Externally, the label's holistic approach provides credibility and security for shareholders and other stakeholders such as employees, investors, politicians and the general public.

Assessment procedure

Proven specialists review on site - together with the Board of Directors - the functions and tasks as well as their organization and implementation in practice. Based on the legal foundations and the "Swiss Code of Best Practice for Corporate Governance" from economiesuisse, the normative, strategic, financial, personnel, management and communication functions and tasks are reviewed and evaluated.

Those who meet the requirements are awarded the Best Board Practice® label by the Swiss Association for Quality and Management Systems (SQS). During the assessments, quality criteria are also reviewed and evaluated so that the Board of Directors can identify possible potential for improvement and implement it if required.

It is also crucial that situational solutions suitable for the respective company are found and applied.

Validity period

Companies now have the choice between a recurring and a one-off assessment. As before, the recurring assessment takes place every three years with annual maintenance assessments. The Board's commitment is rewarded with the BBP® label guarantee mark.

The new one-off assessment on offer is carried out as required and has an official validity of one year. If the organisation and activities of the Board of Directors meet the BBP® requirements, this is recognised with the BBP® certificate.

You can find out more about the assessment of management bodies in accordance with corporate governance principles (Best Board Practice® label) under this Link