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Definition

One of the directors of a company who is responsible for the company's finances. The Companies Act makes no distinction between the various directors of a company - they all have the same responsibilities and obligations. However, directors have an employment contract with the company which specifies their duties. The financial director is responsible for producing the financial statements of the company and for ensuring that it can meet its financial commitments - like passing a solvency and liquidity test before paying a dividend.

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