HOW FAMILIAR ARE YOU WITH YOUR DUTIES AND OBLIGATIONS AS THE COMPANY’S OFFICIAL REP?
According to the Corporations Act, a director is vested with set of duties and responsibilities including:
As a director, you should be well informed of all affairs of the company. For example, if the company ledger is poorly managed, you cannot excuse yourself from that responsibility by claiming that you are not the company accountant. In this instance, you should have sought advice from an accountant to manage the company ledger.