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The Business Advisory Blog

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Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents.  Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

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Directors: Know your role

Written by Vanessa Williams on August 3rd, 2021.      0 comments

If you’re a director, make sure you’re up to speed on both company law and the accepted code of behaviour required for the job.

If you ignore the underlying principles of ‘good faith’ and ‘duty of care’ you could be fined up to $200,000 or face jail time.

business woman thumbs up-426Remember to:

  • Maintain a consistently solid understanding of the company’s activities and financial status.
  • Confidently read, understand, question, and manage the company’s financial statements.
  • Stay curious and use your independent judgement when dealing with company matters.
  • Utilise reports, statements, and expert help to make decisions in the best interest of the company and know when to ask for more information.
  • Consider joining The Institute of Directors to develop your skills and knowledge, learn from more experienced directors, and access helpful information and services.
Please contact the Alliotts team in Auckland on 09 520 9200 to discuss your role and responsibilities as a Company Director.
 

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