For executive and non-executive directors there are numerous issues to be aware of in fulfilling your duties. These include fiduciary duties and duties of care and skill and an increasing number of statutory responsibilities.

The environment within which directors operate is also getting tougher. Non-executive directors find themselves on the wrong end of the billion pound litigation. The Financial Services Authority has strong powers and the resources of the Financial Reporting Review Panel and its remit are being increased.

Following the publication of the Higgs and Smith reports a revised Combined Code comes into effect for accounting periods commencing on or after 1 November 2003. The revised Code impacts on Chairmen, executive directors and non-executive directors in different ways. Increasingly membership of the remuneration and audit committees are becoming hot potatoes.

If you are a director of a listed company and want to understand the pitfalls to avoid and reinforce your existing skills as a director, please contact us via the link below.