Basically the following in no particular order are universal:
A) Enforce the rules
B) Protect fighters from excessive punishment
C) Alert the timekeeper for any instances where time is called such as 1) warning fighters for some infraction; 2) Equipment malfunctions (most typically loose tape on the gloves; 3) Deducting points for infractions
D) Alert the scoring judges of any point deductions
In most instances nowadays, a referee is given full authority to stop a fight if he believes a fighter is no longer able to adequately defend himself. In the case of an injury such as a bad cut or a pronounced swelling, a referee will often ask for the opinion of the ringside physician in order to make a determination.
It is almost unheard of now, but Referees used to also score fights and if one goes back far enough, especially to the first half of the 20th century, it was common for the referee to be the sole judge of a bout.
The referee's position is one that comes with considerable responsibility without the needed worry of judging who is winning. There is considerable scrutiny. Mitch Halpern and Richard Greene (two good referees) would tell you themselves if they hadn't committed suicide. Somehow, Arthur Mercante Jr. (an unintentional - I hope - boxing Marquis de Sade) sleeps well at night. Go figure.
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