On 8 October 2007 ASIC issued a media release identifying 140 individuals who in their role as Company Officers had breached the Corporations Law.

On 17 April 2009, Senator Nick Sherry, Minister for Superannuation and Corporate Law, confirmed that the Commonwealth will conduct an audit of its laws that impact on the issue of company director liability and will do so against the principles developed by the Council of Australian Governments (COAG).

Two recent decisions of note involved religious disciplinary bodies and duties of company directors.

The application of the "Better Targeting of Not for Profit Tax Concessions" is delayed from its intended start date.

The Government announced that the start date for the Australian Charities and Not-for-profits Commission is delayed.

Many business owners learn on the job, meaning key financial and cash flow management skills may be lacking.

The decision of the Administrative Appeals Tribunal (AAT) in Sinclair v FC of T [2010] AATA 902 has thrown up some uncertainty about the level of assurance that taxpayers need to obtain to avoid being subject to tax penalties.

A number of legal procedures to recover outstanding school fees from parents are discussed below.

The Full Federal Court has allowed Lilyvale Hotel Pty Ltd to bring forward losses in reliance on the same business test where Lilyvale previously ran a hotel business using a manager.

An Australian company's AUD 168,000 fine for failing to lodge audited financial reports reveals a widespread challenge: businesses often cross into mandatory audit territory through organic growth without realizing it. As revenue, assets, or headcount expand, companies can unintentionally trigger obligations under the Corporations Act, with consequences extending far beyond regulatory penalties to impact financing, transactions, and investor confidence.

Due diligence is the appraisal of a business or franchise by a prospective buyer, to allow for an educated investment.

Discusses the 2 fundamental shifts in the Australian financial reporting regulatory landscape.

An income tax exempt entity must satisfy a new "In Australia" test in order to retain tax exemption and concessions.

Australia's ranking in the top 10 does not mean we are immune to global corruption.

This newsletter includes summaries of news articles and reports affecting employment and businesses in Australia.

Gathering information from Clients is a critical stage of the workflow process and, when done well, can have a very positive impact on efficiency.

The Corporations Act 2001 provides that, in the event of a company being wound up, the liquidator is able to claw-back payments made by the insolvent company to creditors within certain time frames and in certain circumstances.

The March quarter was dominated by a relatively lacklustre reporting season.