As a director of a small business , you need to ensure you are aware of what is expected of you – your duties and obligations – in your role as a director. The Australian Securities and Investments Commission (ASIC) has issued a guide that provides an overview of the responsibilities involved in being a director of a small business, and sets out the regulator's expectations of people who take on this role.
Small business owners
need to understand what being a director of a small business company entails. To help small businesses, the Australian Securities and Investments Commission (ASIC) has developed a guide setting out the role and responsibilities of company directors. The guide is particularly useful for small businesses seeking to change from a sole trader to a company business structure.
The guide, entitled ASIC's guide for small business directors , provides an overview of directors' duties under the Corporations Act 2001 and covers the following topics:
Key points from the guide
ASIC's guide for small business directors is available online at ASIC's Guide for Small Business.
If you would like to know more, please don't hesitate to contact Robert Goodman Accountants on 07 3289 1700.
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