Independent Directors play a vital role in business dealings nowadays. For many financial institutions, independent directors should serve as part of the board of special purpose entities or SPEs which are formed by the companies in order to protect and keep their assets during real estate transactions. They mostly play a role on the board of financially distressed companies. Although every company maintains their goals to have the best directors, an independent director may be called in to aid during the times of distress. An experienced and knowledgeable director mitigates the company’s situation by helping in the litigation and bankruptcy situations, or when the company is facing insolvency or still entering the state of insolvency. Accountingguru’s independent directors can help in those worst cases.
Who are independent directors?
According to the NASDAQ Rule 4200, an Independent director means a person that is not an executive officer or employee of the same company. He or she must not have any relationship whatsoever such that it would impair his independent judgment for the carrying out of his responsibilities. He must not be employed by the company or any of its related parent or subsidiary for the last three years. In a nutshell, independent directors are those that have independent ties with the company and only work as such in times of financial distress or other major financial transactions.
What Are Our Independent Director Services?
- Understanding of the role. In Accountingguru, we strive to help the company understand the professional role that an Independent Director or Manager takes in the whole transaction. Our Independent Directors join periodical training to keep their responsibilities and roles in check.
- Outside counsel. An external experienced counsel is taken in order to set the limits that the role of Independent Directors can take. They help in understanding the needs of the parties involved and discusses rating agencies and debt holders.
- Responsive actions. Our service includes working with your company efficiently to meet the closing date and participate in the voting for material actions. As we go along with your objectives, our Independent Directors are responsive and professional in delivering their votes should they be tasked to do so.
- Customization of the deal. Our services are tailored for the transactions that we deal with you. We make sure that you get the services according to what you have paid us. You may say your desired preference on the supposed duties of the Independent Director as long as it is in accordance to the law and its general responsibilities fall under its job description.
In Accountingguru, we provide for best Independent Director Services and advisory on such. You may call our office at (+65) 6728 5483 to book for an appointment with us.