Русско-англо-русский юридический словарь

Matters reserved for the board

An effective board controls the business but delegates day to day responsibility to the executive management. That said there are a number of matters which are required to be or, in the interests of the company, should only be decided by the board of directors as a whole. It is incumbent upon the board to make it clear what these matters reserved for the board are inline with the UK Corporate Governance Code (the ’Code’) that states: ’There should be a formal schedule of matters specifically reserved for the board’s decision’ and that the annual report should contain a high level statement of which types of decisions are to be taken by the board and which are to be delegated to management. (ICSA website)

Andrew Harrison, who chairs the remuneration committee, brazened it out in the annual report, urging shareholders to look at a different number – the 265% increase in the company’s share price over the past two years (and certainly not the £214m loss it delivered in 2019). (The Guardian)

The annual report should be signed by the person who acts as the single-person executive body and by the chief accountant. (International Accounting and Reporting Issues: 2004 Review)

Allgeier shares drop 3.1% on Tuesday after German watchdog Bafin said that it ordered a review of the company’s 2020 annual report. (Bloomberg Tax)