In October 2008, the Institute of Chartered Accountants in England and Wales (ICAEW) issued Technical Release 06/08 entitled "Financial and Accounting Duties and Responsibilities of Directors". The release provides guidance on directors' duties and responsibilities of a financial or accounting nature. Split into three parts (general duties and responsibilities of directors, financial reporting and accounting responsibilities and other financial responsibilities of directors), the guidance sets out what is considered to be good practice rather than what may be acceptable as the legal minimum.

View the ICAEW guidance (79 page pdf).