Proactive Directors who understand their responsibilities and discharge their duties are more than likely fully conversant with their fiduciary duty. Directors need to be sure that they have acted correctly to avoid being exposed to the risks of personal liability, should circumstances overtake the business.
Questions for consideration
- Are risk management procedures in place to mitigate your entity’s exposure to financial risks, such as liquidity, credit, foreign exchange and interest rate risks?
- Have you reviewed everything that may be relevant to an assessment of going concern and are your disclosures specific in relation to the risks and uncertainties the business faces?
How can we help…
Being fully conversant with your fiduciary duties as a Director
- Undertaking a review of the specific business and financial risks affecting the business.
- Assist in becoming fully conversant with your fiduciary duties as a Director
