In a recent business article, it was stated that there is nothing cute about innumeracy. The article further noted that innumeracy is not a loveable quirk, but something stupid, shameful and, if you are in a position of responsibility at all, it is dangerous.

You are required to:

1. Consider, in the light of these comments, how a Board of Directors can ensure they have the right skill mix in order to carry out their responsibilities. (10 marks)
2. Set out what strategies Boards should put in place in order to manage:

• Business risks. (5 marks)
• The development of appropriate accounting policies.

(5 marks)