CPDStore Ireland

There has recently been insolvency related changes to Companies Act 2014 on the expansion of directors’ duties.  This webinar will outline directors’ duties and obligations when a business is in financial difficulty, and possible consequences for directors for not adhering to those duties and obligations. It will also cover considerations and options for companies facing financial uncertainty or difficulty, particularly as the Government’s COVID-19 business support measures and tax warehousing are coming to an end. 

This webinar is suitable for company directors, accountants and financial advisors who want to understand the considerations for directors and options available to companies in financial uncertainty at this time. In particular:

• Accountants with clients that are facing an uncertain future.
• Accountants / advisors who want to inform their clients of their statutory duties if potentially facing insolvency.
• Directors who want to know more about their statutory obligations where their business is facing insolvency.
• Business owners who want to know more about their restructuring and other options.

In this session Ian Barrett will cover the following topics;

• Directors’ duties & obligations
• Signs of financial distress & company insolvency test
• Practical steps for directors to take in times of financial difficulty / when facing insolvency.
• Common errors and risks for directors
• Overview of formal restructuring and insolvency processes – survival and winding up

By attending this session, you will have an: -

• Understanding of director’s statutory obligations and duties when in financial difficulty
• Understanding of signs of insolvency / financial difficulties
• The steps directors should be taking if the business is in financial difficulty and the risks for directors if these steps are not taken
• Knowledge of formal restructuring / insolvency processes available to companies

This session will be of most interest to Audit & Accounting practices, Business owners, Company directors, financial advisors and Tax advisors.

Course level: Advanced