The board of directors of a Canadian firm must:

Name: The board of directors of a Canadian firm must:
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Question

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The board of directors of a Canadian firm is obligated to act in the best interests of the company. This is because they have a fiduciary duty to act in the best interests of the company as a whole, not just the shareholders or managers. While the interests of shareholders and stakeholders (including creditors) may be considered, the primary duty is to the company itself.

The Board of Directors of a Canadian Firm Must