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directors duties

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › directors duties

  • This topic has 3 replies, 3 voices, and was last updated 12 years ago by AvatarMikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • October 30, 2013 at 5:00 pm #144165
    Avatarbik123
    Member
    • Topics: 55
    • Replies: 79
    • ☆☆

    Hi,

    I have question if every duty of director is fiduciary duty?

    October 31, 2013 at 1:39 pm #144211
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    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?

    November 2, 2013 at 6:55 pm #144396
    Avatardiannel2012
    Member
    • Topics: 18
    • Replies: 37
    • ☆☆

    Is there an easy way to remember this or memorizing is the only option…?
    🙁

    November 3, 2013 at 8:39 am #144413
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    Do you know the fifth line of the British national anthem?

    ‘Appi and glorious

    The seven statutory duties of the directors are appiand

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