The guide highlights best practice and the legal requirements around large number of scenarios and topics. It includes questions to ask before taking up directorship, and best practice when working with other board members and management.
Other sections include decision making, legal requirements for signing off financial statements, and what to do when things go wrong. The guide also covers insolvency issues and how to raise capital from the public.
FMA CEO Sean Hughes describes the guide as useful roadmap designed to help directors understand their obligations.
IoD CEO Ralph Chivers says directors are expected to demonstrate very high standard of care and diligence, especially in matters relating to the management of other people’s money.
”Having the right knowledge and skill set to execute those responsibilities is essential,” he says.
“It is also vital that directors are committed to ongoing personal development to ensure that their knowledge and skills remain current and that they are doing the best job possible.”
Download copy of ‘A Director’s Guide’.
