Directors' Transactions - Accounting and Legal Issues

Objectives

This course will provide a framework for identifying who is considered a director and the risks that they face under the Companies Act. There will also be a consideration of how transactions with directors are disclosed and accounted for.

Throughout the course, consideration will be given to identifying riskier situations and providing practical solutions.

Key topics

The course will cover the following points, using practical examples throughout:

• Definition of directors and what roles might be treated as directors
• Areas where a director may become personally liable (e.g. wrongful trading)
• Consideration of legality – property transactions, loans and dividends
• Disclosure issues in the Companies Act and Accounting Standards
• Disclosure reductions for small and micro companies
• Accounting issues for certain related party loans

Who should attend

The course will be of use to anyone involved in advising, or preparing accounts for, corporate clients as well as those individuals advising directors.