The OECD Principles provide that “board members should act on a fully-informed basis, in good faith, with due diligence and care, and in the best interest of the company and the shareholders.” Board members require experience, competence and knowledge in order to be “fully informed.” Several Asian organisations and associations have developed or are developing voluntary board member education programmes. Education and training should cover board members’ basic legal and governance duties, along with areas such as financial literacy, the monitoring of internal control systems, business strategy development, risk policies and budgets.