Guidelines for directors aim to improve corporate governance 

The Institute of Directors framework 'is the first of its kind in Ireland'

The new continuing professional development guidelines by the Institute of Directors were introduced in response to the changing policy, regulatory, macro-economic, and governance environment in Ireland.

Directors working in differing industries in Ireland have together published a framework for business to improve corporate governance standards.

The new continuing professional development (CPD) guidelines by the Institute of Directors (IoD) were introduced in response to the changing policy, regulatory, macro-economic, and governance environment in Ireland.

“This new IoD Ireland CPD framework for directors, which is the first of its kind in Ireland, will act as an enabler for individual directors and boards in identifying the necessary skills and expertise needed to direct and control their company, and support with board succession planning and development,” said IoD Ireland president John Reynolds.

The IoD is a not-for-profit organisation, with membership across all sectors and industries, but predominantly the financial services sector.

"By developing and enhancing the competence and expertise of those charged with governance, this new suite of supports will advance the quality and performance of organisations across Ireland, driving our competitiveness and strengthening our economy,” said Minister for Enterprise, Trade and Employment Simon Coveney.

Workplace ethics

In addition to improving corporate governance, the guidelines are expected to be used to develop overall responsibility and ethics in the workplace, particularly among individual directors, senior executives, and boards.

"It is an empowering resource for our members and their boards in relation to skills assessment and development and succession planning," said Mr Reynolds.

The IoD developed workshops and programmes to help directors to implement this framework, providing information on workplace behaviour and how to properly carry out legal duties and comply with regulations.