It is essential for any limited company to understand who is responsible for running and governing the business and what that responsibility entails. The board's actions are subject to laws, regulations and the shareholders in general meetings.
The shareholders also have a role which is to appoint the directors and the auditors, and they must be satisfied that there is an appropriate governance structure in place.
Boards of directors are responsible for the governance of their companies. The responsibilities of the board includes:
- Setting the company’s strategic aims
- Providing leadership to put them into effect
- Supervising the management of the business
- Reporting to shareholders
You may be happy with your corporate governance arrangements but just want reassurance, or help, with the latest changes in company law. For example, you many have questions about the interpretation of new Companies House requirements for filing and transparency (e.g. Register of Persons with Significant Control; ‘confirmation statements’ replacing ‘annual returns’) or on new rules relating to directors conduct and disqualification.
Perhaps you are thinking about reorganising, expanding or possibly merging or acquiring? If so, we can offer relevant advice on changes to shareholdings or company structures and the impact on corporate governance.
Does your business understand and comply with the UK Corporate Governance Code?
Originally this code was designed for larger companies listed on the Stock Exchange. Increasingly, it has become more relevant to smaller businesses: those with shareholders outside of the directors or owner-managers; those involved in contracts to supply public bodies; those involved in supplying larger businesses who value ethical behaviour in suppliers; those with significant employee or union involvement in governance’ those with specific conditions attached to banking and lending facilities; those who are members of trade bodies and special interest groups.
We can explain the standards you need to meet and help you put into place the procedures you need to achieve them.
How we can help
We can provide advice and guidance on best corporate governance practice in relation to:
- The role of non-executive directors
- The appointment of directors
- Remuneration of directors
- Corporate reporting and risk management
- What decisions should be made by the board
Our approach is tailored to meet your individual business needs. We can help with:
- Organising the ownership
- Strategic issues
- Legal support on day to day running
If you would like help setting up your business to make sure that you have the organisation and governance right contact or team today.