I ran across an article on questions for board members to ask about foreign exchange and multi-currency accounting that posed the following three questions:

1. How confident are you in the data provided by the Controller and used by Treasury to manage foreign exchange exposure?

2. How does your treasury organization calculate foreign exchange exposure?

3. How often does Finance analyze foreign exchange exposure gain/loss? How do they benchmark results?

Board members were encouraged to ask these questions of the CFO. What additional questions would you suggest that board members pose to get a better idea of their company's true FX exposure and the reliability of the exposure management processes?