Non-exec roles & responsibilities in a private company
ICAS has issued guidance on the role and responsibilities of non-executive directors in a private company.
About the guide
The guide is designed to assist boards in deciding whether they wish to appoint a non-executive director and what should be expected from that appointment. It should also assist non-executive directors in fulfilling their role on a company board and it can be used by someone who is asked to become a non-executive director, to help him or her in evaluating whether or not to accept the position. It also outlines a number of practical measures, which should help both the company and the directors to fulfil their roles and to manage their risks effectively.
The guide is not intended to be prescriptive but simply to suggest points that a non-executive director and a company board may wish to consider in order to manage expectations, and to manage potential risks.