Conducting due diligence before accepting a directorship
Two key areas of potential concern are company financials and board dynamics. By MIKE GRAY
Add BT as a preferred sourceCONGRATULATIONS! You have been invited to join the board of a company that fits your profile and interests. However, on no account should you jump into a particular directorship without doing your own due diligence.
Read up all available reports such as annual reports, press articles and filings with the stock exchange. And search the Internet - it's surprising what it can throw up.
Take some time to visit the company to get a better idea of operations and meet other board members (in particular, outgoing directors) and senior management. By asking the right questions, you should be able to get some feeling of their competence and the culture of the company.
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