The board of directors of Big Staffie plc, a FTSE 350 company, are considering the balance of the company’s board.
In particular, the company’s chairman is considering which of the company’s non-executive directors can be classified as independent.
Even if a non-executive director has worked as an employee for the company in the past, they may still be classified as independent if the period of employment finished at least?
Select ONE answer:
- Two years ago
- Three years ago
- Four years ago
- Five years ago
Show your workings to arrive at your answer, and explain and justify your reasons:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 4
- Not correct
- Not correct
- Not correct
- Correct == > This is set out in the provision supporting B1 (effectiveness: the composition of the board) in the Code.
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