What criteria must individuals fulfil to become directors in the UK?

September 10th
A director may be an individual or another legal entity (such as a company). If the director is an individual, he or she may hold office provided that:• he or…
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What financial and non-financial information must UK companies disclose to the public?

September 10th
UK companies are required to disclose certain financial and non-financial information, both in general and through their annual reports and accounts. This information must be made available to shareholders and…
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How are board members appointed or removed in the UK?

September 10th
Appointing directors Directors are most commonly appointed by shareholders at a company’s Annual General Meeting (AGM), or at an Extraordinary General Meeting (EGM). If a vacancy on the board arises…
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To what extent can a board delegate responsibilities to committees? Are any board committees mandatory?

September 10th
A company’s constitution may allow its directors to delegate responsibility for certain decisions to board committees. Committees often have directors as members, although a company constitution can allow non-directors to…
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In the UK, who makes up a board of directors?

September 10th
The composition and selection of a company’s board is set out in that company’s constitution. Articles within the constitution will usually stipulate a minimum and even maximum number of directors…
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What are UK company directors’ duties and responsibilities?

September 10th
A director owes statutory duties to their company under sections 171 to 177 of the UK Companies Act. These duties include the following:• acting within their powers, including acting in…
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What are the main principles of UK corporate governance?

September 10th
AccountabilityCorporate accountability refers to a board’s responsibility for providing explanations for a company’s conduct.• The board should present a balanced and clear assessment of the company’s position and prospects• The…
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Is there a code of practice for corporate governance in the UK?

September 10th
The UK Corporate Governance Code, published by the Financial Reporting Council (FRC), covers standards of good practice for listed companies on topics such as board composition and development, remuneration, shareholder…
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What is corporate governance?

September 10th
Corporate governance is a system of rules, practices and procedures that determine how an organisation or business operates. This enables an organisation to make sure it is always meeting its…
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What are the benefits of corporate governance?

August 19th
Corporate governance is critical for an organisation, as it increases accountability. When the board of directors, management, company employees and shareholders are responsible for each other, this helps ensure everyone…
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