Company Compliance Made Easy – Accounting Firm Client Case Study

One of our accounting partners recently forwarded a list of corporate changes relating to a client company. These included: appointment of a new director and secretary, resignation of an existing secretary, change of address for a director who is also a shareholder, and transfer of shares between officeholders. If handled in-house, the firm would have needed to lodge multiple ASIC forms, draft resolutions and prepare minutes, taking more than three hours.

Instead of handling the complex ASIC compliance requirements in-house, they simply forwarded the instructions to CoSec Partners (part of ABN Australia). We prepared and lodged everything the same day and returned the updated documentation ready for signing. As the ASIC agent, we receive all ASIC correspondence, including annual reviews and fee notices, forward ASIC invoices and alert clients to any fees or late penalties, provide complimentary ASIC searches and debt reports, prepare annual review documentation and directors' solvency resolutions, use ASIC EDGE-approved software, and lodge ASIC forms on behalf of clients with proof of lodgement provided.

Both the accountant and their end client were satisfied with the speed and accuracy. The process that would have taken more than three hours in-house was completed the same day with professional accuracy. This demonstrates the significant advantages of outsourcing corporate registry work, including: the ability to focus on the organisation's core activities, access to expert support at cost-effective rates, improved profitability through better allocation of staff resources, continuity of compliance during staff turnover or leave, and high accuracy with reduced risk of ASIC errors or penalties.