Seanad debates

Wednesday, 28 May 2003

Companies (Auditing and Accounting) Bill 2003: Committee Stage (Resumed).

 

The great difficulty is turning non-executive directors into executive directors. That is not their job. Members said directors should ask questions. Of course, they should but they should ask them at the marco level. The worst that could happen to an organisation is for non-executive directors to micro-manage and get involved in the nuts and bolts of the operation. That would dissipate and diffuse responsibility from those who should have it because when one spreads responsibility among a lot of people, one takes the focus off those with responsibility. Senator O'Toole gave the classic definition of the role of directors, that is, to see that systems are in place and adhered to and ensure compliance.

Comments

No comments

Log in or join to post a public comment.