The final stage of the DIN rollout is soon to cross the finish line. The expectations of Directors are clear and so are the penalties for non-compliance. The Australian Business Registry Services (ABRS) commenced its Director ID enforcement in March this year. They focused on first-time directors who had not completed their director ID [...]
Around 50,000 Director Penalty Notices (DPN) have been issued by the ATO to directors of companies having overdue tax payments. The issuing of a DPN is a procedural step only required of the ATO before it can commence proceedings against the director to recover penalties which have already accrued. Non-lockdown DPN If a company [...]
The 13 financial reporting, corporate governance regulatory topics of crucial importance to CFOs and Directors this Winter. 30 June 2022 reporting is the focus. We detail ASIC-focus areas, the lessons from of its financial-reporting surveillance program, and changes to AFSL reporting. For many for-profit entities, this season sees the end of special purpose financial [...]
We explain the corporate-governance, financial-reporting, and regulatory topics of crucial importance to CFOs and directors. Much has been happening of particular relevance to boards – director identification numbers, whistleblowing and breach reporting, fraud, wages underpayment, and climate change. Good news – there are no substantial new standards for 31 December. We’re focused on regulatory [...]