Independent Directors and Advisors. Edward Addey, FCA 12 October 2006. Independent Directors and Advisors. The downside. Are they worth having? French context. What do ID’s do? Why us? What are we doing ? ABAF Focus Group web site. Independent Directors and Advisors. The downside.
Edward Addey, FCA
12 October 2006
An unique source of benefit and added value
British Chartered Accountants (CAs) who have worked in France for many years have certain unique qualities, well suited, to the position of Independent Director or Advisor:
Independent Directors and AdvisorsBRITISH CHARTERED ACCOUNTANTS ASINDEPENDENT DIRECTORS AND ADVISORS TO BOARDS OF DIRECTORS IN FRANCE(Cont)
International best practices and increasingly strict Corporate Governance regulations encourages companies to cast their nets more widely in the recruitment of Independent Directors. CAs come from a diverse range of backgrounds and have sound business skills and broad-based experience. This means that organisations can be assured of their relevance, quality and added value for the Requirements and Roles as described in the following pages.
REQUIREMENTS OF ALL DIRECTORS
IN ADDITION THE ROLE OF THE NON-EXECUTIVE DIRECTOR INCLUDES THE FOLLOWING:
THE EFFECTIVE NON-EXECUTIVE DIRECTOR:
THE INDEPENDENT NON-EXECUTIVE DIRECTOR:
At certain times, it may be deemed preferable to appoint an individual as an advisor (known as a “censeur” in France) to the Board or to individual directors to: