A director of a company, as stated by ASIC, is a person who is responsible for managing the company’s business activities.

A lot of small businesses take the next step from sole trader or partnership to company, and they often don’t understand the complexities of a company and the requirements of a director and in particular your role as company director. Our Femia Accountants Perth team are ready to talk you through these changes, and make the transition that much easier for you.company director advice perth

You should only agree to become a company director or secretary if you are willing, able and have enough time to put in the effort.

You should avoid situations where someone offers to appoint you as a director or secretary on the promise that ‘you won’t have to do anything’ and ‘just sign here’. You could be exposing yourself to serious liabilities if you accept such a role.

ASIC has developed a guide in order for directors to fully understand their roles and responsibilities and the possible implications in cases when the director fails to carry out his duties.

The guide contains information on how to become a company director, what it means to be director of a company, the key responsibilities of a director, the liabilities a director will face when things go wrong and how to resign as a director of a company.

Read the complete details of the ASIC guide for small business directors on the ASIC website or click here for more information about how the team at Femia Accountants Perth can help you set up a company and information on becoming a director.