Guide to Directors' Duties
This guide sets out the role and responsibilities of corporate directors.
If you are a company director, complying with directors' duties are core to adhering to corporate governance laws. Whether you are the sole director of a startup or you sit on the board of an ASX-listed company, you must comply with legal duties if you are a director.
This guide will help you understand the directors' duties that apply to you within the Australian corporate law framework, namely:
- the role and the core duties of company directors;
- the importance of record-keeping and preparing reports;
- how to manage risk, should a breach occur.
Failing to understand the extent of your duties as a director can result in severe consequences, so it’s important you take steps to understand your obligations to the company, shareholders and creditors.
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