🇦🇺Australia

CEDS Non-Compliance Fines

2 verified sources

Definition

Public companies must disclose full subsidiary details via CEDS for financial years ending on or after 30 June 2024, subject to audit. Directors certify as 'true and correct'. Failure risks Corporations Act penalties.

Key Findings

  • Financial Impact: AUD 50,000+ per breach (ASIC civil penalties up to AUD 1.1M for corporations); 20-40 hours/month manual data gathering
  • Frequency: Annually per financial report
  • Root Cause: Manual mapping of subsidiary structures, ownership %, and tax residencies across entities

Why This Matters

The Pitch: Holding companies in Australia waste AUD 100,000+ annually on CEDS compliance audits and penalties. Automation of subsidiary data mapping eliminates this risk.

Affected Stakeholders

CFO, Group Accountants, Directors

Deep Analysis (Premium)

Financial Impact

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Current Workarounds

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

Intra-Group Elimination Errors

AUD 100,000-500,000 restatement/audit fees per error; 30-50 hours per consolidation cycle

Ultimate Parent Consolidation Failure

AUD 50,000+ ASIC fines per violation; 40 hours/month policy harmonization

ASIC Late Lodgement Penalties

AUD 93 per late lodgement + AUD 9.30/day thereafter (ASIC penalty units as of 2024/25)

Director Duty Breach Fines

AUD 1,110,000 max civil penalty per director per breach (2024/25 penalty unit x 1,000)

Invalid Resolution Opportunity Costs

20-40 hours/director per failed resolution cycle (at AUD 250/hr professional rate = AUD 5,000-10,000)

Suboptimal Capital Allocation Fines

AUD 100,000-AUD 1M+ per insolvent trading claim; 40 hours/month manual oversight

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