62 – Director Identification Numbers
April 20, 2022
The introduction of director ID will create a fairer business environment by helping prevent the use of false and fraudulent director identities. This will go a long way to better identifying and eliminating director involvement in unlawful activity.
Shareholders, employees, creditors, consumers, external administrators and regulators are entitled to know the names and certain details of the directors of a company. All directors are required by law to verify their identity with us before receiving a director ID. This is important because it will help to:
- Prevent the use of false or fraudulent director identities
- Make it easier for external administrators and regulators to trace directors’ relationships with companies over time
- Identify and eliminate director involvement in unlawful activity, such as illegal phoenix activity
Check out this video series for step-by-step directions on how to get your Director ID number.
Paul Sweeney Chartered Accountant & Business Advisor, launched Pretium Solutions after a long and successful career in accounting and business advisory. Paul credits his passion for small business with growing up in country NSW, where family-run businesses were the cornerstone of everyday life.
For Paul, the driving force behind The Business Behind Your Business was to make high end, proactive, directed and value-based advisory services available to small to medium businesses.
Paul brings to the table decades of experience as a highly qualified accountant and business advisor at every level of business. Through consulting, coaching and on-the-ground training and operations, his focus is on unlocking the untapped potential for greater profitability. Paul’s qualifications allow him to pair strategic advice with an advanced understanding of taxation and compliance matters.
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