ICAEW publishes guide to directors’ responsibilities
Released 30 November 2018
The Institute of Chartered Accountants in England and Wales (ICAEW) has published a guide to directors' responsibilities.
The guide provides an overview of directors' responsibilities and duties, 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. The guide is written for directors of private companies limited by shares with more than one director. A company of this kind is owned by its shareholders, but its board of directors is responsible for the management of the company’s business. Its directors have a special legal position as those with authority and responsibility within the company for the acts (and omissions) of the company.
View the guide at ICAEW's guide to directors' responsibilities.