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Karim has inherited a sizeable shareholding in an Australian public company which is unlisted. Karim has been offered a position on the board. Karim would

Karim has inherited a sizeable shareholding in an Australian public company which is unlisted. Karim has been offered a position on the board. Karim would like to accept but his friend Fatima has explained that as Karim has no accounting knowledge, he may find it difficult to comply with s295(4) of the Corporations Act 2001 (Cth). Required: Explain the requirements of s295(4) of the Corporations Act 2001 (Cth) to Karim and advise Karim whether he would be allowed to rely on others to meet these requirements

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