Why is it important to my business?

Companies have a myriad of legal obligations that they must comply with which will vary depending on the nature of the business. To avoid problems in the future, it is important that Directors and senior management in the organisation fully understand their obligations.

Typically, most businesses will have some legal responsibilities when it comes to areas such as business structure and registration, licensing, contracts, leasing, employing staff, corporate conduct, OH&S, privacy and information protection, intellectual property protection and selling goods and services.

Where a organisation is not complying with the law, whether it is intentional or unintentional, and action is brought against it, serious damage can ensue. Hence it is critical that the Directors of a organisation understand that there are systems in place to manage compliance with legal requirements.

Certain industries have defined their own operating standards, voluntary commitments, or goals. Directors should be aware of these voluntary commitments so the stakeholders retain confidence and faith in the organisation.