“Asking a wise person provides half the answer” (old Hebrew saying).

A director successfully combines professional know-how, preferably in finance and accounting, and has wide expertise on the one hand and a high level of personal and organizational understanding. Being a director he has to deal with finance policy, accounting strategy and supervision of results versus budgets.

Most of the subjects discussed are related to financing sources, liquidity problems, approval of financial reports, supervision methods, wages policy, acquisition offers, logistic efficiency, bonds and funds allocation and share issues.

The Companies Law – 1999 determines that at least two external directors have to serve on the Board of Directors of a public company. At least one of these has to be a director with accounting and financial expertise.

The requirement to appoint external directors is not limited only to public companies, and there are other companies such as bond companies and companies managing provident funds, pension funds and further education funds who also have to appoint external directors.

Abraham Schurder, CEO of Schurder Consultancy, has all the professional attributes required to act as an external director and has successfully completed a certificate course of the Israeli Institute of CPA’s covering this issue.

Abraham’s all round experience in audits of public companies has given him the optimal tools to act as an external director with accounting and financial expertise.