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Services of the Board

The board of directors must ensure high performance of the company and act as a valued sounding board to the day-to-day management.

The lawyers of Codex Advokater are not only elected to board of directors in their capacity as lawyers. They are elected because they can contribute with a range of the expertise, which the individual company requires at that given time.  

Often a lawyer who has specialised in commercial law can bring a number of valuable competences to the board of directors aside from the classic legal matters.

As a legal adviser for companies and in our capacity as lawyers we have become very knowledgeable about strategy, financial statements, the running of a company or specific knowledge of a trade, which may provide competent feedback to a board of directors – and with it the day-to-day management – and help to ensure a good and productive operation.

In Codex Advokater we have a lot of experience in board services – both as a chairman of the board and as an ordinary board member – within many lines of business, and generally we will be able to find a lawyer to meet the demands of your company in respect of a qualified board member.

We are a member of the Association of Danish Board Lawyers (Danske Bestyrelsesadvokater). The association has defined the primary role of the board of directors like this:

  • Responsibility to make sure that overall ideas, strategies and objective are formulated and followed up.
  • Consider whether the capital resources of the company are reasonable compared to the operation of the company.
  • Supervise the work of the executive board, including
    • ensure that the book-keeping is checked satisfactorily
    • ensure that the asset management is checked satisfactorily
  • Elect a qualified executive board (and make sure that the pay of the executive board reflects the achieved results
  • Ensure a proper organisation, and also
    • install suitable systems for risk management
    • install compliance programs to make sure that the company meets relevant sets of rule.
    • Ensure that the financial reporting is satisfactory and that the task of the accountant is well-defined.
    • Ensure a well-developed budgeting system and make sure that it can be applied.
    • Set guidelines for the executive board and make sure that the executive board has well-defined detailed objectives including:
      • Product development
      • Marketing
      • Production/rationalisation
      • Administration
    • Ensure clear guidelines for responsibility, division of responsibilities, planning, follow-up and risk management

    Ensure good and constructive relations with the interested parties of the company