BAFNED Register
The Association of British Accountants in France has created a “Non Executive Directors” Register.
The Reason Why:
Best practice dictates that every Board of Directors should include:
• At least one financially oriented member
• A minimum of 2 non executive directors
Benefits of choosing a British accountant:
• Financially oriented business qualification
• Availability of technical support from the Institutes (governing bodies)
• Multi-cultural awareness and experience
• Experience in senior management and Board roles in diverse industries
Who could benefit?
Medium sized companies with an international profile:
• English language groups with a subsidiary in France
• French groups with subsidiaries in the Anglophone world.
NEDs can be used at either the Group level or at Subsidiary level.
For a more detailed presentation and to consult the profiles of the members please visit our website at www.bafned.eu
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Minutes
MEETING OF:
Non Executive Directors Group
DATE & TIME:
19 July 2007, 11.00 – 14.00
PLACE:
Chartered Accountants’ Hall
CHAIR: Jonathan Cohen
MINUTE TAKER:
Felicity Nelson
ATTENDEES:
Sharron Gunn (MSD), Malcolm Durham, Mike Arnold, Edward Addey, Jonathan Levy (MSD), Lis Protherough (MSD), Anthony Firmin (MSD), Pui-Sang Jellett (MSD), Jonathan Bushell (LIS)
APOLOGIES Dennis Cox, Rob Millea,
Item
1 Welcome
2 Minutes of Previous Meeting
The minutes of the previous meeting, held on 6th February were approved.
3 Presentation of Key Research Findings + Discussion
Research Survey
Jonathan Levy presented the findings of the research survey which was answered by over 1000 Institute members.
Sharron agreed to ask the Institute library to carry out desk research to identify ICAEW members in NED roles for FTSE 350 companies.
Sharron invited the Group to contact Jonathan Levy should they wish to see further detailed results of the NEDSIG survey.
The Group commented that the research suggests that the NEDSIG will provide two different services, one for current and one for aspiring NEDs.
Jonathan agreed to see if we could provide a percentage breakdown of international and male vs. female members who had responded to the NED survey.
SG
ALL
JL
4 Service Provision
E-Library
Jonathan Bushell joined the Group to discuss the NEDSIG e-library. The electronic library for the NEDSIG will be a dedicated information source for members of the Group and will include a catalogue, reading lists and full text e-books.
There can also be links into other sites that will be relevant to the members.
The Group suggested that there should be a search facility on the e-library site.
The e-library has a section called Book Bytes which provides summaries of books to see if the full text would be of interest.
The e-library also contains all of the publications from the National Association of Pension Funds.
Jonathan Bushell explained that the Committee will give information on issues, ‘hot topics’, articles and content that is relevant to the e-library.
The Group agreed to review topics for the e library, events and newsletter for the following headings:
• Public Sector
• (Jonathan to seek input from Vernon Soare on Public Sector and forward list to JC)
• Private
• Listed.
External Resources
The Group discussed inviting representatives from the big 4 to join the Committee and that the NEDSIG could join with information that the big 4 provide.
Jonathan agreed to research current providers of NED training courses, and see if they would be interested in collaborating with the Institute.
There are also possible links with the Charity and Voluntary Sector Group and the Public Sector Group.
There will be also be some link with the Canadian Institute in that they have a booklet on NEDs that Sharron will obtain a copy of so that we may look at their success.
Our services are also open to the Scottish Institute.
NED Register
The Group discussed the option to terminate the existing IDR and seek alternatives. It was agreed to close down the current IDR, and to seek collaboration with other on-line recruitment agencies to set up a NEDs register. Group members to provide a list of suitable on-line recruitment agencies to consider as a potential outsourced NEDs register.
ALL
JC
JL
MD
JC
JL
ALL
5 Service Provision – Delivery
Newsletter
The Group decided that the newsletter should be quarterly. Barbara Hale from the Institute will be responsible for co-ordinating articles written by the Committee and occasionally externally sourced authors.
Events
The Group discussed NEDSIG seminars which they suggested should be held three times a year in different locations depending on the geographical spread of the membership.
Lis agreed to liaise with the events team concerning the date of the 2008 conference and circulate suggestions to the Group.
LP
6 Marketing and Launch
Sharron agreed to commit resources to deliver the launch of a NEDSIG and Website by the end of 2007.
In November the brochure for the SIG will be produced and there will be an article in Accountancy. There will also be items placed in the various Alerts, including International Alert, around the time of the launch.
The NEDSIG will launch in November to coordinate with the subscriptions drive.
Pui and Anthony agreed to put together a timeline and send out to the Group by 27/07/07.
Pui asked the Group to feedback any comments on the marketing paper to her. SG
PSJ/AF
ALL
7 NED SIG Committee / Chair
The Group discussed the Committee for the NEDSIG and decided that it is important to have a wide range of representation on the Committee. Lis agreed to put together a profile for Committee members.
The Group agreed to forward any suggestions of possible Committee members to Lis.
LP
ALL
8 AOB
Felicity agreed to provide a list of all staff members working on the NEDSIG project to the Group.
Felicity agreed to liaise with the Group concerning a date in September for the next meeting. FN
FN