Finance and audit oversight are vital responsibilities for boards in ensuring financial stability, transparency, and compliance within organizations. Boards are responsible for reviewing and approving financial statements, budgets, and major financial decisions. They must understand and monitor financial performance, assess risks, and ensure effective internal controls. Boards evaluate financial integrity, identify areas for improvement, and provide oversight on risk management. By maintaining strong finance and audit practices, boards safeguard the organization’s financial health and maintain the trust of shareholders and stakeholders.