If ASICs public database shows that a proprietary company has provided notice concerning financial report lodgement or audit relief, does that mean ASIC has approved the relief?
No. Most of the notifications required under class orders dealing with financial report lodgement relief or audit relief are notifications for the public record. One purpose is so that persons dealing with the company may be able to determine that the company intends to take advantage of relief under the relevant order. Relief under the ASIC class orders is dependent upon the company concerned meeting all of the conditions of those orders. The onus is on the company and its directors to ensure that all of these conditions are met. The fact that such a notification required by a class order appears on the public record does not mean that ASIC has considered or approved relief. Nor does ASIC inform companies that these notifications have been received and processed.
Related Questions
- If ASICs public database shows that a proprietary company has provided notice concerning financial report lodgement or audit relief, does that mean ASIC has approved the relief?
- Is accommodation that is provided by a private company with care provided by a different body (whether public, private or voluntary sector) within the scope of the LHA scheme?
- If a company changed from a public company to a small proprietary company after the end of its financial year, does it still have to prepare and lodge a financial report?
