Company directors have a wide range of duties under the Companies Act 2006, most notably a duty to manage financial affairs in a way that keeps the company solvent.
Other critical directors’ duties include exercising independent judgment, reasonable care, skill and diligence, and avoiding conflicts of interest. Directors’ duties also cover obligations to maintain accurate records and the need to file accounts with Companies House – two tasks that are traditionally associated with the role of company secretary. Failure to comply with directors’ duties can be a criminal offence with serious consequences.
SA Law has extensive experience advising on directors’ duties, helping to lift the burden that these senior professionals often face. We work with directors to solve challenges as they arise, and also act as an ongoing source of advice for critical decisions.
How we help you
- Our objective is to help you comply with all requirements of the Companies Act 2006, and our business expertise means this isn’t simply a ‘box ticking’ exercise. Every piece of advice is aimed at enhancing your commercial position.
- We are also experts at helping entire boards fulfil their directors’ duties, with specialised training on how to balance the needs of your organisation against legislative requirements. Our seminars are focused, informative and practical, and we try to make them as fun as possible.
It’s good to bear in mind
- Unfortunately, ignorance is no defence in a failure to comply with directors’ duties, which is why staying up to date with legislative changes is critical to a director’s career. If you wish, SA Law can advise you on changes in advance of their introduction to keep you on the right side of the law.