Additionally, financial reporting must provide internal guidance to program managers to maintain budgetary control and to governing city councils and boards of directors to provide adequate financial policy guidelines.
The standard is, however, contested largely among business circles which favor a view that directors should act in the sole interests of shareholder value.
It also trains staff and directors of rural and community banks, guarantees payment instruments, develops credit assessment procedures, and monitors loans and advances.
No-par stocks often require the board of directors of a company to determine a stated value when issuing no-par stock to replace the par-determined capital amounts.
If the mechanisms of voting do not prove enough, particularly for minority shareholders, directors' duties and other member rights may be vindicated in court.