Corporate Governance

Corporate governance refers to the system of rules, practices, and processes by which companies are directed and controlled. It encompasses the relationships between various stakeholders such as shareholders, management, the board of directors, and other relevant parties.

Corporate governance aims to promote transparency, accountability, and fairness in decision-making processes, safeguarding the interests of shareholders and other stakeholders. This includes establishing effective board structures, implementing internal controls, managing conflicts of interest, and complying with legal and regulatory requirements to uphold ethical standards and enhance long-term value creation.

Directors have fiduciary duties to act in the best interests of the company, exercise reasonable care, skill, and diligence, avoid conflicts of interest, and promote the success of the company for the benefit of its shareholders.

Directors may be personally liable for breaches of their duties, including negligence, fraudulent trading, wrongful trading, and breaches of statutory obligations such as health and safety regulations or environmental laws.

GDPR regulations impose obligations on businesses to protect the personal data of individuals, including ensuring lawful processing, implementing data protection policies and procedures, obtaining consent, and notifying authorities of data breaches.

A company’s secretarial responsibilities include maintaining statutory registers, filing annual returns and accounts, convening and minuting meetings of directors and shareholders, ensuring compliance with Companies Act requirements, and acting as the custodian of corporate records.