Business Compliance
Company Compliance
Track company obligations, record keeping, annual review tasks, director details, and governance updates.
Overview
Company Compliance explained
Company compliance covers the ongoing obligations that come with running a registered company in Australia, from the annual review to keeping your director details and registered records current. Companies are regulated by ASIC, and staying in good standing is an active, year-round responsibility.
Every company has an annual review tied to its registration date, alongside duties to keep registered office and officeholder details up to date, maintain proper records, and ensure directors hold a Director ID. Miss these and your company can fall out of good standing or attract late fees.
Cockatoo helps you keep your company obligations visible, track your review date, and notice when officeholder or address details need updating. We are not ASIC, but we help you stay organised and ahead of the next deadline.
What to check
Key points
- Each company has an annual review date based on its registration anniversary.
- Registered office, principal place of business and officeholder details must be kept current with ASIC.
- Every director must hold a Director ID, and director changes need to be notified.
- Good record keeping underpins compliance and makes the annual review straightforward.
Before you start
What you'll need
- Your ACN and the company's registered details as currently recorded.
- Your annual review date and the most recent review confirmation.
- Current registered office and principal place of business addresses.
- Up-to-date director and officeholder details, including Director IDs.
- Your share structure and member records.
- Minutes, resolutions and other records that support your governance.
Process
How it works
- Confirm your ACN and review your recorded company details.
- Note your annual review date and prepare ahead of it.
- Check director, officeholder and registered office details are current.
- Update ASIC promptly when any recorded detail changes.
- Keep your records and resolutions organised throughout the year.
Avoid these
Common mistakes
- Missing the annual review date and incurring avoidable late fees.
- Forgetting to notify ASIC when a director or address changes.
- Assuming the company secretary or accountant has it covered without confirming.
- Letting record keeping slide until the review forces a last-minute scramble.
Common questions
Company Compliance FAQs
What does company compliance involve each year?
Company compliance involves completing your annual review, keeping registered details and officeholder information current with ASIC, maintaining proper records, and ensuring directors hold a Director ID. Cockatoo helps you keep these tasks visible and on schedule.
What is the company annual review?
The annual review is an ASIC checkpoint tied to your registration anniversary. You confirm your company details are correct and meet the associated obligations. Letting it lapse can lead to late fees and affect your good standing.
Do my directors need a Director ID?
Yes. Directors are required to hold a Director ID, a unique identifier they keep for life. Tracking which of your officeholders hold one is part of staying compliant, especially when directors join or change.
What happens if I do not update ASIC after a change?
Recorded details that are out of date can lead to penalties and missed correspondence, and they undermine the public record others rely on. Updating ASIC promptly after any change keeps your company in good standing.
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