I would not necessarily agree that financial skills are essential to take up a NED.If you can't read a set of accounts, then don't take up a directorship.
Hi BrendanHi Jim
I think it's very risky to take on an NED without being able to understand the finances of a business.
There may be a legal defence, but who wants to go down the road of explaining one's self in court?
Brendan
If you can't read a set of accounts, then don't take up a directorship.
Some do pay.Thanks Farma1. That’s very helpful.
I often wonder why people do the public sector ones as they seem very stressful and are not paid.
Most of them pay although you’d never get rich. They used to be gifted for political patronage but the process has tightened up considerably in the last 10 years or so.Some do pay.
Some pay expenses.
Several advertised here right now do anyway:
https://stateboards.ie/en/info-and-resource-hub/list-of-vacancies
I guess that people do it for different reasons (apart from any remuneration/expenses that apply).
E.g. to serve the public, to gain experience, to raise their profile, to network/make contacts etc.