{"id":3587,"date":"2021-09-30T10:08:06","date_gmt":"2021-09-29T22:08:06","guid":{"rendered":"https:\/\/www.bdsaccountants.co.nz\/?p=3587"},"modified":"2021-09-30T12:17:23","modified_gmt":"2021-09-30T00:17:23","slug":"directors-know-your-role-if-youre-a-director-make-sure-youre-up-to-speed-on-both-company-law-and-the-accepted-code-of-behaviour-required-for-the-job-if-you-ignore-the-underlying","status":"publish","type":"post","link":"https:\/\/www.bdsaccountants.co.nz\/insights\/directors-know-your-role-if-youre-a-director-make-sure-youre-up-to-speed-on-both-company-law-and-the-accepted-code-of-behaviour-required-for-the-job-if-you-ignore-the-underlying","title":{"rendered":"Directors: Know your role"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>If you\u2019re a director, make sure you\u2019re up to speed on both company law and the accepted code of behaviour required for the job. If you ignore the underlying principles of \u2018good faith\u2019 and \u2018duty of care\u2019 you could be fined up to $200,000 or face jail time. Remember to:<\/p>\n<ul>\n<li>Maintain a consistently solid understanding of the company\u2019s activities and financial status.<\/li>\n<li>Confidently read, understand, question, and manage the company\u2019s financial statements.<\/li>\n<li>Stay curious and use your independent judgement when dealing with company matters.<\/li>\n<li>Utilise reports, statements, and expert help to make decisions in the best interest of the company and know when to ask for more information.<\/li>\n<li>Consider joining <a href=\"https:\/\/www.iod.org.nz\/\">The Institute of Directors<\/a> to develop your skills and knowledge, learn from more experienced directors, and access helpful information and services.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; If you\u2019re a director, make sure you\u2019re up to speed on both company law and the accepted code of behaviour required for the job. If you ignore the underlying principles of \u2018good faith\u2019 and \u2018duty of care\u2019 you could be fined up to $200,000 or face jail time. Remember to: Maintain a consistently solid &hellip;<\/p>\n","protected":false},"author":1,"featured_media":3593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[489,503],"tags":[],"yst_prominent_words":[393,237,451],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Directors: Know your role - BDS Chartered Accountants<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bdsaccountants.co.nz\/insights\/directors-know-your-role-if-youre-a-director-make-sure-youre-up-to-speed-on-both-company-law-and-the-accepted-code-of-behaviour-required-for-the-job-if-you-ignore-the-underlying\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Directors: Know your role - BDS Chartered Accountants\" \/>\n<meta property=\"og:description\" content=\"&nbsp; If you\u2019re a director, make sure you\u2019re up to speed on both company law and the accepted code of behaviour required for the job. 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