The most effective boards accomplish much of their work through committees. Although they do not usually have legal duties, most committees are granted full power to act with the authority of the board between board meetings. Typical standing committees ( in order of prevalence) are the audit (100%), compensation (99%), nominating (97%), corporate governance (94%), stock options (84%), director compensation(52%), and executive (43%) committees. The executive committee is usually composed of two inside and two outside directors located nearby who can meet between board meetings to attend to matters that must be settled quickly.