Directors and their advisers, internal and external, will not need reminding that the burdens on directors are increasing constantly. As a result, the spectre of personal liability looms ever larger, not least as the UK becomes a more litigious society.
The new statutory operating and financial review (OFR) requirement imposes another burden on directors and increases the scope for personal liability. How concerned should directors be about this and what should be done by way of risk management?
