What is ASIC Compliance?
ASIC stands for Australian Securities and Investments Commission which is an independent commission governed by the Australian Government. Their role is to regulate companies and financial services by enforcing laws that aim to protect Australian consumers, investors and creditors.
ASIC follows the Corporations Act 2001 (Cth), which outlines the laws and regulations businesses are expected to follow.
Why ASIC Compliance is important to businesses:
- It’s important that businesses understand their responsibilities and obligations with complying to ASIC because failure to do so can lead to serious consequences
- ASIC has the ability to take legal court action on those who do not comply with their laws. The extent of the consequence will depend on the seriousness of the act committed by the businesses. Punishment can include fines worth millions of dollars and also up to 15 years prison time.
Our ASIC Company Compliance Service
As registered agents, KAS Accounting provides services to assist our clients and make sure their company follows ASIC compliance under the Corporations Act 2001 (Cth). KAS can help companies with the following ASIC compliance services:
- Assist with applying for and maintaining company registration of business name and company details
- Keep company details and company registers up to date with ASIC compliance standards
- Conduct financial reporting and auditing of financial statements
- Offer tax advice
- Assist with flagging any incorrect information related to ASIC compliance
- Ensure your compliance with Australia’s corporate regulator to ensure legislative requirements are met
- Assist with compliance of company legal obligations
- Help prepare and administer the company annual return to ASIC
- Assist with company deregistration
Find out more about ASIC Compliance
If you're interested in finding out more about ASIC compliance get in touch with KAS Accounting Solutions today. Visit our contact us page for more information.
Our other accounting services:
KAS Accounting also offers a range of different accounting services to businesses in Darwin, Kununurra and Broome. We can offer assistance with the following: