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With institutional investors, regulatory authorities, the financial press, and the fear of lawsuits all pressuring boards of public corporations to be more active, many directors are seeking practical ways to conduct strategic oversight. Gordon Donaldson''s strategic audit provides an orderly way for boards to review strategy without invading management''s territory. Usually, there are three triggers that motivate boards to get involved in strategy: the retirement of a CEO, a precipitous decline in profitability, or an unsolicited takeover attempt. These triggers force a board into a reactive mode and are not conducive to effective oversight. Managers are expected to turn strategic vision into operational reality, but directors represent shareholders and must evaluate strategy based on how the company''s returns compare with those of other investment opportunities. Donaldson suggests that a low-key, behind-the-scenes audit of strategy, designed to lend credibility to management''s leadership and not undermine it, is an important board tool.