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Other Aspects Relevant to the Collective and Individual Roles of Di-rectors of a board

      

Other Aspects Relevant to the Collective and Individual Roles of Di-rectors of a board

  

Answers


Faith
Accountability of Directors jointly and severally to ensure that:
- They provide direction to the company.
- They put in place independent and viable mechanisms to evaluate performance of the company and management.
- They appoint competent, qualified and able executives.
- They evaluate and manage risk.
- They manage effectively and efficiently all stakeholder relationships and reconcile any potential conflict of interest.
- They account for stewardship [efficient and effective use of entrusted resources] for the maximum benefit of share-holders.
- They ensure that the Company operates within the law and the legality of transactions.
- They ensure that the company operates within ethical guidelines that enhance integrity, social accountability and the reputation and credibility of the company.
™Liability of directors jointly and severally in the context of:
- Criminal and penal laws relevant to companies.
- Fiduciary trust and agency.
- Fraudulent trading with an insolvent company.
- Fraudulent promotion or misrepresentation in the promotion of the company.
- Personal liability for fraud, secret profits, corruption and bribery.
Code of ethics
The Board of Directors shall develop and put in place a code of ethics outlining the values, ethics and beliefs that guide the policy and behaviour of the company and define the ethical standards applicable to it and to all who deal with it.
Social Responsibilities
The Board of Directors will monitor the social responsibilities of the company and promulgate policies consistent with the company‘s legitimate interests and good business practices. In particular, the Board of Directors shall:
- Promote fair, just and equitable employment policies;
- Promote and be sensitive to the preservation and protection of the natural environment;
- Be sensitive to and conscious of gender interests and concerns;
- Promote and protect the rights of children and other vulnerable groups;
- Enhance and promote the rights and participation of host communities.
General
The Board of Directors shall, conscious of its responsibilities to investors, suppliers, creditors, employees and the society:
- Issue a certificate at the end of every year confirming that it has complied with the law, conducted its affairs in accordance with the best principles and practices of corporate governance and that to the best of the knowledge of the Board and management, no person, employee or agent acting on behalf of the company with the knowledge or authority of the Board or management, committed any offence under the Prevention of Corruption Act or indulged in any unethical behaviour in the conduct of the company‘s business, or been involved in money laundering or any practice or activity contrary to national laws or international conventions.
- Publish a Social Responsibility report every year indicating how it has dealt with its social and environ-mental responsibilities
Titany answered the question on October 26, 2021 at 07:56


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