An issuer must appoint INEDs representing at least one-third of the Board. Due to their independence and valuable professional expertise, INEDs are expected to serve on board committees, including the audit, remuneration, nomination and other governance committees.
While not part of the issuer’s management or the day-to-day operations, INEDs should contribute to the development of the issuer’s strategy and policies through independent, constructive and informed comments. In addition, INEDs play a key role in the Board’s oversight of risk management and internal controls.