How to Sleep Better
How to Sleep Better. Owner, Director Personal Liability
That's the title of a seminar to be held by the AICD this week in Melbourne as part of Victoria's Energise Enterprise 07.
Owners and directors face a broad range of laws where they can be personably liable for the actions or inactions of their companies staff. The penalities can be severe including jail.
Over the next month or so I will be discussing parts of my presentation at this seminar based on real life experiences that will highlight the failings of many owners and directors of privately owned companies with regard to risk management and compliance.
A headline last month in the Australian Companies Directors Magazine stated the following.
That's the title of a seminar to be held by the AICD this week in Melbourne as part of Victoria's Energise Enterprise 07.
Owners and directors face a broad range of laws where they can be personably liable for the actions or inactions of their companies staff. The penalities can be severe including jail.
Over the next month or so I will be discussing parts of my presentation at this seminar based on real life experiences that will highlight the failings of many owners and directors of privately owned companies with regard to risk management and compliance.
A headline last month in the Australian Companies Directors Magazine stated the following.
" ASIC prosecuted 561 company officers for 1,133 contraventions of the Corporations Act with fines and costs of $1.1 million. Six good behaviour bonds and 320 hours of community service"
Ignorance is no excuse when it comes to possible court action over non compliance.
Bill Winter
posted by Bill Winter at 3:56 PM
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