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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › directors duties
Hi,
I have question if every duty of director is fiduciary duty?
No, not every duty.
Reasonable skill, care and diligence
No secret profits
Full disclosure of interest in transactions and activities
are the three main fiduciary duties.
But statute has extended these to include :
Act within their powers
Perform with skill, care and diligence
Promote the success of the company
Independent attitude in all their actions
Avoid conflicts of interest
No benefits or bribes to be received
Disclosure of interest in transactions and activities
OK?
Is there an easy way to remember this or memorizing is the only option…?
🙁
Do you know the fifth line of the British national anthem?
‘Appi and glorious
The seven statutory duties of the directors are appiand