There are numerous types of board committees that advise the board and allow directors to be more involved in a specific area of expertise. Types of standing board committees include the audit committee, nomination committee, the finance committee and the executive committee, among others.

The responsibility of a board committee is to divide up the work amongst board members, allowing board directors with specific expertise to focus on key areas and, which allows committee members to better serve the board's needs. The specific needs of board committees help make sure that the board can adhere to the corporate governance principles that they have outlined.