Keeping records
All corporations must keep correct and up to date accounts and records.
Records help you to gather and maintain evidence about your business activities, like:
- what, where and when something was done
- why a decision was made
- who was involved in making decisions.
It's a good idea to keep all records in one place for easy access.
Keeping proper records helps with meeting your annual reporting requirements.
Types of records
A corporation needs to keep 4 main types of records.
Other records
Other documents that form part of a corporation's records are:
- a copy of all documents lodged with ORIC
- a record of decisions made outside meetings - how they were made and who made them.
- the rule book of the corporation.