With corporate governance being such a broad term, it’s easy to overlook or confuse certain elements with others. This is why it is important you work with an Australian Public Practice Taxation Accountant who is well versed in external and internal factors like leadership, laws and regulations, policies and procedures. Good corporate governance creates a usable framework that strikes a balance between compliance and performance, and a taxation partner like Stones Sharp CPA’s will assist you in creating this.
As a private, public or non-resident business, Corporate Governance should be a priority for stakeholders inside and outside of your company as it enables you to effectively identify, assess and manage a Companies ASIC requirements and minimise risk of non-compliance. Corporate Governance can have untold effects on everything from share capital, liquidity and solvency, executive remuneration and ASIC audits. Accurate and up to date lodgement of all Corporate Affairs matters will ensure your Company effectively and accurately reports all matters relating to the Company, Directors and Shareholders and full compliance with ASIC requirements. Stones Sharp Certified Practising Accountants will ensure that your Company fulfils its ASIC obligations.
BUILDING A FRAMEWORK FOR THE FUTURE
By taking into account legislated laws as well as non-binding guidelines as outlined by the Corporations Act, ASIC and other authorities, an effective framework for Corporate Governance can be complicated. A failure to do so could lead to low and inappropriate governance and exposure to high risks thus leading to large penalties and consequently business failure.
Depending on the size and type of your business, you might already have a corporate governance strategy or you might be requiring one for the first time as a result of a business start-up, growth or changes in both your internal and external structures. No matter which stage your business is in, Stones Sharp Certified Practising Accountants will assist you in setting up, rearranging or just realigning your current arrangement to ensure corporate compliance and governance with integrity.
Contact the Stones Sharp team to discuss your corporate compliance and corporate governance requirements.