Directors hold a fiduciary responsibility to all stakeholders and so each decision, whether active or passive, is very important for the risk exposure of both the company and the individual.
Directors are liable to many regulatory bodies, including other stakeholders, for wrong decisions and/or negligence.
Responsibilities include but are not limited to:
- Researching and analyzing all proposals adequately prior to agreement.
- Sufficient time to appropriately reports and proposals received from the company.
- An independent and confidential view on financials and other proposals, other than relying on the judgement of the company officials, who may have a vested interest.
- Improved risk for the Board and the individual to have external research and analysis done, so that appropriate questions can be asked at the Board Meetings.
Improved corporate governance