Corporate Compliance
We help our clients in more ways than just putting together their annual report. To achieve the best outcome, we tailor our accounting solutions to a business’ size, complexity, budget and regulatory needs.
In addition to annual tax compliance, all company officeholders must understand their legal obligations under the Corporations Act 2001, including keeping accurate financial records, passing solvency resolutions, and keeping company details up to date.
Being a company officeholder is different from being a sole trader who is the owner of a business name. Company officeholders (directors and secretaries) have several responsibilities, including those set out in the Corporations Act 2001.
At Precision, our corporate compliance programs will help you to meet your legal requirements, including:
- Assisting with your ASIC and ASX reporting obligations by preparing or reviewing all necessary minutes and resolutions;
- Making sure company officeholders keep proper company records such as financial records, deeds, the member’s register, and minutes of meetings;
- Ensuring that ASIC is provided with an updated list of the directors, including their full name, dates of birth and address;
- Ensuring that ASIC is informed of any significant changes in your business. Such changes include a change in the registered office of the business location;
- Making sure you pay all relevant fees to ASIC. If you fail to do this, ASIC may de-register the business.
At Precision, our corporate compliance programs will help you to meet your legal requirements.
ASIC requires that you have current financial and business records which explain the business transactions and financial position and is also necessary for ensuring that the company is solvent. Hence, our compliance programs help you to do this.
At Precision, we work with you to develop your corporate compliance program. We tailor your plan based on the size and type of business you run. Even if you are a business with a single Director, a corporate compliance program will allow the proper documentation of essential business processes such as accounting processes. Having even a basic plan in place will not only make it easier to run your business but also make the company more attractive to a potential buyer. As your business grows, a well-designed compliance program will ensure that your business remains compliant as it grows.
If you need help in designing a compliance program for your business regardless of its size, Precision can assist you in preparing policies, developing a plan or help you in meeting your legal requirements. Get in touch today and Join the conversation…