Overview
This event deals with the essentials of what you need to know about being a director of a company and acting in a Board. It provides an overview of the Companies Act, 2008 in relation to directors’ duties, responsibilities and personal liability in a manner that provides a framework for Board management.
Learning objectives
The objective of the course is to provide delegates with:
- Understanding of the codified duties of directors in the Companies Act, 2008.
- Understanding of the duties of directors in the Companies Regulations, 2010.
- Understanding of the common law duties of directors.
- Understanding of recent case law.
Course Content
The course will cover the following topics:
- Who is a director?
- Who is subject to directors duties and liabilities (Prescribed officers, Appointed directors, Board committee member)?
- Are company secretaries “prescribed officers”?
- Correctly applying:
- business judgment rule,
- codified and common law directors’ duties,
- delegated functions and responsibilities
- King IV
- Limitations to powers
- Company vs Directors financial interests
- Granting of financial assistance to directors
- Standards of director’s conduct
- The correct procedure to disclose personal financial interest
- When can a person be removed as a director?
- When does a director acquire personal liability?
- When can a director be declared a delinquent/under probation director?
- When must directors implement business rescue proceedings?
- Protection for directors (Indemnity, Insurance, Whistle blow, Business judgement)
- Examples and Cases
Obtaining your CPD certificate
Attendance of the half-day seminar/webinar will accrue 1 hour CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA.
Complete the free online assessment at the end of the event and receive an additional 4 CPD hours.
Who should attend
- Directors of private companies.
- Directors of listed companies.
- Company secretaries.
- Accountants advising directors and boards.
- Forensic auditors.
Investment
If you are an existing CPD subscriber on Company Secretary package, you will be able to register for this event free.
Members who are not existing Company Secretary CPD subscribers will pay R399 for the webinar, which is available on demand.