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Directors Duties & Responsibilities

Ignorance is not a defence against failure to comply with your legal obligations as a director. Do you know the answers to some key questions surrounding companies and the duties and responsibilities of directors?

Meeting Your Compliance Obligations

by Bruce Nixon

Compliance obligations were created with the intention to help organisations be more effective, lower their risks, conform to economic or environmental issues and be more community oriented, leading to the long term financial health of a business.

Seven Deadly Norms

by Daniel Yankelovich

It would be wrong to imply that destructive norms have taken over the business community. This is emphatically not the case. Unfortunately, there is no reliable way to quantify just how far ethically pernicious norms have spread.

Business Structuring - Don't Have A Fit!

by Michael McClaren

There are many important things to consider when it comes to the structuring of a business. The structure impacts on not only the business, but the owners as well. The types of entities employed and the ownership of those entities can have far-reaching implications that extend beyond just income tax. Those implications include stamp duty, capital gains tax and pension planning to name just a few.

Corporate Trustees A Must For A Self Managed Super Fund - Part 2

by Sharon Houghton

Corporate Trustees A Must For A Self Managed Super Fund - Part 1 explored the benefits of a corporate trustee from a legislative point of view while this article examines the practical aspects of choosing this type of trustee.

Making The Most Of Compliance Committees

by Tony Macvean

Compliance committees are an important element of the regulatory platform on which retail managed investment schemes operate. The Corporations Act 2001 sets out the functions, responsibilities and composition of scheme compliance committees at a general level.

Trustee/Director Of A Corporate Trustee - Are You Liable?

by Tony Macvean, William Khong and Nicole Tumiati

For some time, trusts have been a widely used vehicle for carrying on a business, particularly a small or medium-sized privately owned business. This is because a trust structure can provide business proprietors with a number of important benefits, like tax and ‘asset protection’ advantages.

Taking Care Of Your Trusts

by Andrea Watson and Emma Woolley

So you have gone to the trouble of establishing trust structures, but are you looking after them properly? Trusts are generally robust, but because they can endure for 80 years, they need to be regularly revisited to ensure they continue to meet the purpose for which they were established and comply with best practice.

Corporate Trustees A Must For A Self Managed Super Fund - Part 1

by BDO Kendalls

In this article we will examine issues surrounding the trusteeship of a Self-Managed Super Fund (SMSF) and why we believe a corporate trustee has some advantages over individual trustees. Each SMSF is different and as such the appropriateness of the trustee needs to be continually reviewed.

Protect Yourself: A Director’s Personal Liability

by Bentleys MRI

Are you a company director? Did you know that you could be held personally liable if your company has a withholding tax debt? Do you know what a '222 Notice' is? Read on to learn about section 222AOE of the Income Tax Assessment Act, and how to protect yourself from liability.

A Fresh Look At External Audit

by Dianne Azoor-Hughes

Audit is an important component of business corporate governance and the risk management process, and can add real value to any organisation.

Working Towards A Compliance Program

by Gerard Kennedy

Compliance is an important part of risk management. Risk management fits under the umbrella of corporate governance. Simple stuff really.

Corporate Governance & Small Business

by Bentleys MRI

The ASX has defined corporate governance as “the system by which companies are directed and managed. It influences how the objectives of the company are set and achieved, how risk is monitored and assessed and how performance is optimised.”

Company Directors – Know Your Obligations And Duties

by Bentleys MRI

The Australian Securities & Investment Commission (ASIC) has outlined the legal obligations of small companies, directors and secretaries. Please find below answers to some of the key questions surrounding companies and the responsibilities of directors.

Governance - A Pocket Guide For Directors And CEOs

by Peter Wilson

The guide is not intended to be a legal treatise – there are many technical works dealing with the responsibilities of directors and CEOs. Rather, the aim is to provide an outline of the key issues which will assist directors and CEOs in their role in the organisation.

Ten Key Financial Reports For Directors And CEOs

by Mark Muller

Receiving key financial information on a regular basis allows directors to keep their fingers on the pulse of the business. Directors and CEOs can be either overloaded with paperwork and reports or concerned that they are not getting enough information to satisfy their obligations and perform their duties fully.

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