Chapter 5

Question 1

Responsibilities of directors

Answer 1

Act in accordance with the companies constitution
Promote the success of the company
Exercise independent judgment
Exercise care,skill and diligence
Avoid conflict of interest
Declare a personal interest in a proposed transaction

Question 2

UK corporate governance code

Answer 2

Leadership 
Effectiveness 
Accountability 
Remuneration 
Shareholder relations

Question 3

Responsibilities of the board

Answer 3

Regulate the executive 
Approve plans,accounts and budgets 
Select executive,determine  
reward,succession planing 
Mitigate risk and supervise the process
Of risk management
Compliance and integrity-legal,financial,result/profit warning obligations,CSR