Financial Statements - Key tax obligations and questions directors must ask

How can directors tell if the company’s tax affairs are being properly managed? Understand the key questions you should be asking when reviewing the company’s financial statements.

Webinar Dates

Recorded Webinar

Cost

Members
Non-members

Recording

Recording available from: Friday, 06 May 2022
Expiry Date - Saturday, 14 January 2023
Duration - 60

DPD Units

This event will earn you 5 DPD units

Directors are responsible for ensuring that the company complies with its income tax, GST and superannuation obligations as well as reviewing the monthly management accounts, so it is critical for them to ask appropriate questions to ensure they can confidently discharge their duties.

This webinar is designed to provide a framework to what key questions directors should be asking to ensure compliance with the company's tax reporting obligations.

More specifically, this webinar will cover:

  • The Directors' Penalty Regime, if a company does not meet its PAYG withholding, GST or SGC obligations, these amounts may be recovered from you personally as a director of the company.
  • The types of questions directors should be asking to ensure that the company is meeting its income tax, GST, FBT and superannuation obligations.
  • Questions a director should be asking even before you start your review of the company’s financial statements, including ATO tax risk management and governance expectations.
  • Key questions to ask in relation to the profit/loss statement, balance sheet, and notes to the financial accounts.
  • The importance of identifying permanent versus timing differences.
  • Practical tax management tips and a takeaway ‘Financial Statements Tax Query’ Checklist.

For this session to be of most benefit, we suggest you have a basic level of understanding of what to look out for in your board financials. For a 'starting' level of board finance please consider Part 1: Financial statements — interpret, analyse and deduce. You may also be interested in Part 2: Evaluating Board Finances - Financial Ratios and warning signs.


Presenter

  • Dr Mark Pizzacalla GAICD, Partner, BDO

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