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
Plagiarism warning
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.
 
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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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IamDozzy

Valued Contributor
I honestly believe that the main function of business director is to coordinate the resources of the business. The resources could include human, financial and others. A business director without the ability to lead effectively in all areas of the business would mean a decrease in productivity and dereliction of duty on the part of the employees. Most business owners usually go for directors with good business acumen and influential in the business field.
 
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Ukohjnr

Valued Contributor
Being a business director you have a lot of responsibilities to take care of because the business or the company you direct is under control, in this case you have a lot of responsibility to take care of so as to maintain their business or keep the company going, being a director you need to have a record of daily income and outcome on the business.
 
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Alexandoy

Valued Contributor
In our business culture a member of the company’s board of directors only attends the board meeting to be updated on the goings on in the company. He can ask questions and take down notes. Some directors are given a regular assignment like the auditing which is a job. That means the director remains on the board and at the same time he is also an employee.
 
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Briangsam

Well-known member
I want to believe the main role of a business director is to participate in board meetings and to make sure the board reach decisions that will fulfill the company's obligations. A director must follow the company's rules and keep company records and report changes. A director is effectively the agents of the company, appointed by the shareholders to manage its day-to-day affairs and dealings.
 
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