Your decisions as a company director matter
When you make a business decision as a company director, you must, amongst other things, ensure that you:
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make the decision in good faith and for a proper purpose.
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do not have a material personal interest in the decision and make it in the best interests of the company.
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find out and assess how any decision will affect your company’s business performance, especially if it involves a lot of the company’s money or could have a material impact on the company's reputation.
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keep informed about your company’s financial position and performance, ensuring your company can pay its debts on time.
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get trusted professional advice when you need assistance to make an informed decision.
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make full and frank disclosure about any material personal interests you do have.
There are penalties and consequences – including civil penalties, compensation proceedings and criminal charges – if you, as a company director, fail to comply with your obligations under law.
Source: https://asic.gov.au/for-business/small-business/starting-a-company/small-business-company-directors/
What we'll do together with you:
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Apply Simple as PQRST And U: Your recipe for adding value by making decisions and taking action
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Improve the quality of the decisions you make as a director.
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Increase the confidence of others in your decisions as a director.
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Make decisions. Take action. Add value.
Your value is the sum of the decisions you make and the actions you take