This know-how guide outlines why appointing an employee director and directors’ use of social media have particular relevance during COVID-19. These suggestions can no longer be described as radical. Companies have shown far greater agility because much more significant changes have been made as a result of COVID-19.
Company Directors guidance
Guidance and reports from the ICAEW on the role and responsibilities of a company director
Directors should start using social media to engage with all stakeholders. Social media attracts an enormous number of users, including company employees, suppliers, and existing and new customers. In this ICAEW Connect and Reflect report, we describe the benefits of social media for directors.
Practical guidance for directors on the importance of whistleblowing during the continually evolving COVID-19 crisis.
This ICAEW guide for directors is intended to reassure directors that they have identified all relevant considerations for themselves and for their companies.
Directors are subject to a variety of sanctions for breach of their duties.
Further information on companies, directors and company law.
The directors are ultimately responsible for the management of the company.
Directors have specific responsibilities in relation to operation of the company, including preparing annual reports and accounts.
Directors are responsible for ensuring their company complies with requirements applicable to certain transactions, including raising money from shareholders.
If a company is in financial difficulty, directors have additional duties to their usual responsibilities.
Directors are responsible for the internal governance (or organisation) of the company.
There are specific rules that apply to certain transactions between the company and its directors.
Directors have seven general duties under the Companies Act 2006.
In this Connect and Reflect report, ICAEW urges boards to consider the value that employee directors can bring to their organisation. The publication explains the role and responsibilities of employee directors and outlines a five-point action plan that should enable boards to take this step to improve their corporate governance.
Company Directors - PAYE Real Time Information. A questions and answers guidance note.
This ICAEW guide provides an overview of directors' duties and responsibilities, including on internal governance, transactions between a company and its directors or shareholders, and corporate administration. It also covers responsibilities in relation to insolvent or financially challenged companies, as well as penalties for breach of directors' responsibilities.
These concern when a director can engage in public practice.
Guidance on the meaning and application of the 'adequate accounting records' requirement in section 386.
One of the key aims of the Bill is to provide a statutory statement of directors’ duties. These new duties were introduced from 1 October 2007. In codifying directors’ duties, the Government’s intention was for the most part not to change them but to establish good business sense for companies to embrace wider social responsibilities.