Directors'responsibilities

Being a director carries a set of legal duties, including acting within the company's powers, promoting its success, exercising independent judgement and reasonable care, avoiding conflicts of interest, and not accepting benefits from third parties. These duties apply whether a director is actively involved day to day or more hands-off in practice.

Directors also carry financial reporting and filing responsibilities, and where a company runs into financial difficulty, their focus must shift towards protecting creditors' interests. Breaching these duties can carry personal consequences in some circumstances, so understanding what's expected matters from day one. We help directors stay on top of their compliance obligations throughout the year.