Financial results for 2007 - Foresters Friendly Society

35075 - Annual Report and Accounts 2008:Report&Accounts 22/7/08 13:11 Page 14Statement of the Directors’ ResponsibilitiesThe Friendly Societies Act 1992 (‘the Act’) requires the Directors toprepare accounts for each financial year which give a true and fairview of the state of affairs of the Society at the end of the year andof its income and expenditure for that year. In preparing thoseaccounts the Directors are required to:• select suitable accounting policies and then apply them consistently;• make judgements and estimates that are reasonable and prudent;• state whether applicable United Kingdom accounting standardshave been followed, subject to any material departuresdisclosed and explained in the accounts; and• prepare the accounts on the going concern basis unless it isinappropriate to assume that the Society will continue in business.disclose the financial position of the Society with reasonableaccuracy at any time, and enable them to ensure that the accountscomply with the Act and the regulations under it. They are alsoresponsible for the system of internal control, for safeguarding theassets of the Society and hence taking reasonable steps for theprevention and the detection of fraud and other irregularities.The Directors are responsible for the maintenance and integrityof the corporate and financial information included on the Societywebsite. The directors responsibility also extends to the ongoingintegrity of the accounts contained therein. Legislation in theUnited Kingdom governing the preparation and disseminationof accounts may differ from legislation in other jurisdictions.The Directors are responsible for keeping proper accounting recordswhich must show and explain the transactions of the Society andThe Directors confirm that the Society did not carry out anyactivities outside its powers during the year.Board AttendanceAttendance at 2007 Board Meetings and Sub-Committees:Board Nominations Remuneration Audit & Risk InvestmentCommittee Committee Committee CommitteeDirectorMeetings Meetings Meetings Meetings Meetings Meetings Meetings Meetings Meetings Meetingsheld attended held attended held attended held attended held attendedMike Baker 12 8 5 3 4 3 - - - -Alex Battershill 12 12 5 2 4 3 4 4 - -Graham Bloor 12 2 - - - - - - - -Glyn Carpenter 12 11 5 5 4 1 4 4 4 4Michael Clarke 12 11 5 2 - - - - - -Carl Genese 12 4 - - - - - - - -John Levett 12 12 5 3 4 4 - - - -Anthony Lovell 12 4 - - - - - - - -Michael Nightingale 12 8 4 3 - - 4 3 - -Penny O’Nions 12 12 - - 4 1 - - 4 4Paul Osborn 12 12 - - - - - - 4 4Andrew Pooley 12 12 - - 4 3 4 1 4 2Mark Rothery 12 11 - - - - - - 4 4The Board has a number of sub-committees that are formed to deal with specialist areas in more detail than would be possible at a Boardmeeting. Each sub-committee operates with defined Standing Orders and Terms of Reference. All Standing Orders and Terms of Referenceare reviewed annually by the Board.13