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Checklist: Risk Management (Corporate Governance)

Checklist: Risk Management (Corporate Governance)
Document Type: Microsoft Word
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This Checklist: Risk Management is designed to give an insight into the basic levels of legal compliance in a range of areas. It will be particularly important as part of:
1. Your company's risk management assessment and process;
2. Your company's business plan for structuring growth in a way that integrates compliance at all levels;
3. Your strategy for protecting your directors and senior executives from civil liability and criminal liability for breaches by the company;
4. Any plans to bring in passive investors - they will want to see a well-managed compliant-conscious business if they are going to have faith and trust in the Board;
5. Any plans to sell the business or part of it;
6. Any plans which the shareholders may have to sell their shares as one block in the company;
7. Where your company or business is the subject of a possible buy-out or takeover, these checklists will allow you to prepare for the buyer's due diligence investigations;
8. Where your company is going from a small proprietary company (section 45A of the Corporations Act 2001) to a large proprietary company, then this checklist will be very valuable in assisting you with the higher level of overall compliance required by your company, its Board and its executives.

There are other internal compliance checks that you will need to carry out. They will probably include an accounting and financial review which should be carried out by your accountants. You may also need to carry out a market/industry review of your company's business. This should be undertaken by your company's executives together with consultants familiar with the industry in which your company operates.

Every business is different, depending upon the industry, the applicable regulatory authorities in the States/Territories in which your company's business is being carried on. For this reason, it is very important that you consider what additional checks or reviews need to be carried out as part of your compliance process.

This Checklist: Risk Management covers a range of issues including:

1. General compliance and maintenance of records, EPA, insurance, employment, WH&S, premises, IP, internal procedures and systems, terms & conditions with 3rd parties.

 
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