A company is a legal entity that is subject to certain corporate requirements and reporting obligations.

While all businesses should keep financial records to ensure they understand how their operations are faring, some types of companies may need to use these records to prepare and lodge financial reports. Financial reports prepared in accordance with the Corporations Act generally must comply with accounting standards, which are likely different from the company’s internal accounting policies or the tax standards.

Also, there are Corporations Act requirements regarding a company’s directors, company secretary, registered office, registers, ASIC notifications, board meetings and minutes, general meeting and minutes, etc.

It might be not cost effective to keep a qualified accountant or company secretary in house. However, their functions are critical to a company’s operation. Whether you are a pty or an ASX junior listed company, we can HELP:

  • Establish and maintain proper corporate records & registers;
  • Establish compliance systems & internal control procedures;
  • Establish internal policies for better corporate governance;
  • Organise board meetings and members’ meetings;
  • Prepare of ASIC forms and notifications;
  • Perform financial accounting and business analysis;
  • Prepare statutory reporting and handle with auditors;
  • Prepare financial information necessary for capital raising.

Tips:

You must notify ASIC of relevant activities or duties, including:

  • Change of place where you keep your registers
  • Change of officeholders or details of officeholders
  • Resignation of director or secretary
  • Change of registered office
  • Change of company name
  • Issue of new shares
  • Change to members (shareholders)
  • Changes to ultimate holding company
  • Division or conversion of shares
  • Negative solvency resolution
  • Solvency resolution not passed
  • Change of company review date.