IoD launches new publication, Directors' Handbook
Date: 29 November 2010
Best practice for company directors in Ireland
The Institute of Directors in Ireland has today launched a new publication, Directors’ Handbook, which sets out best practice for company directors in Ireland. The handbook outlines the duties and responsibilities of the role, and is a comprehensive guide to being a director in Ireland.
Central to Ireland’s corporate recovery and future growth is the need for directors to operate to the highest professional standards, with a full understanding and appreciation of the responsibilities of the role. The Directors’ Handbook has been developed specifically to improve the knowledge and expertise of directors, so as to build better quality boards and strengthen governance frameworks.
Covering a wide range of responsibilities; from the duties of the non-executive director to that of the chairperson and company secretary, the Directors’ Handbook also outlines the tasks of the board of directors, the functions of board committees, and the procedures for appointing and removing directors. It explains the multiple compliance and legal issues facing directors in Ireland, as well as outlining corporate governance requirements for Irish organisations.
The Directors’ Handbook has been produced with the support of the Institute of Directors in the UK and in association with McCann FitzGerald.
Commenting on the new publication, Maura Quinn, Chief Executive, Institute of Directors in Ireland, said: “The Directors’ Handbook is about doing things the right way. Directors are under more pressure than even before to demonstrate a clear understanding of their responsibilities and adherence to the highest standards. This best practice guide provides the knowledge and sets the standard for directors to execute their role effectively.
“The Directors’ Handbook is a step on the road to improving the expertise of directors and boards in Ireland; however, we also need to see a move towards the professionalisation of the role, with the requirement for formal training. In doing so, we can fundamentally improve professional performance and corporate governance standards in our organisations.”
John Cronin, Chairman, McCann FitzGerald, added: "It is vital to our economic recovery that Ireland is seen as a reliable place to do business, and that we in Ireland are seen as a reliable people with whom to do business. A commitment to the highest standards of corporate governance and ethical behaviour is crucial and we are pleased to have supported the Institute of Directors in Ireland in this initiative."
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