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The Corporations Act imposes on directors the critical responsibility of approving and adopting the financial report. Directors cannot delegate that responsibility, even to apparently competent and reliable persons.Below we provide a high level snapshot of these key duties and what is required of pu...
Executive officers (EOs), which include company directors, are exposed to criminal liability if their company is found guilty of a breach of its obligations under Chain of Responsibility (CoR) laws. Here we examine when this liability would apply.There are two strands to that liability:1.Under s 636(1) of t...