Are there more responsibilities of a business director?

olubenson

Member
Business or company directors are responsible for the preparation of the financial statements of the establishment, which give a true and fair view of the state of affairs of the business body, and of the profit or loss for the specific period in time. They must also comply with the financial laws as laid down by the government.

Company directors must ensure that:
  1. Proper accounting records are maintained
  2. Applicable accounting standards are followed
  3. Suitable accounting policies are adopted and consistently applied
  4. The judgments and estimates made must be reasonable and prudent
  5. Internal control procedures are instituted which, as far as reasonably possible, safeguard the assets of the company and prevent irregularities and fraud.
Kindly state more? if available
 

Godslamp

Well-known member
Company directors are responsible for the management of their companies. They must act honestly and promote the success of the business and benefit its shareholders. They also have responsibilities to the company’s employees, its trading partners, and the state. As a director, you have wide powers to help you promote the company. However, you face serious penalties if you abuse those powers or use them irresponsibly.
 

Samuel72

Well-known member
According to my own point of view I believe as a business director they are more responsibility for you to take over this is because the manager will want to make all enquiries from you and whenever the manager is not on duty you will be the one to take charge of everything that is going on in the organisation. As a director in an organisation you will have to take charge of every accounting in the organisation and hand over them to the manager
 
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