What does a chief restructuring officer do?

When companies find themselves in trouble, they don’t always have the capabilities to get out of trouble. So, some businesses seek expert assistance to enhance their operations. In our experience, leading companies often recruit a professional, known as a chief restructuring officer (CRO), to lead the improvement process.

What exactly is a CRO?

While the term CRO is extensively used in the United States and Europe, it is an emerging concept in Australia.

For a company facing financial difficulties, a

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3 articles to help your business lift its performance after Easter

We hope you’ve had (or are still having) a relaxing Easter/Anzac Day break and are feeling reinvigorated as we march toward the end of the financial year. These periods away from work provide a brief respite from the day-to-day pressures of business, and a chance to reflect on what’s going well and what might need to be improved. Hopefully it’s also given you the opportunity to sample some of this season’s finest Easter eggs.

To help guide your thinking about ways to improve your business,

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A distressing situation: spotting the warning signs of a business in trouble

Stress is an inevitable part of doing business. But when day-to-day stress becomes distress, it could be a warning sign of deeper problems.

When a business is in trouble, it doesn’t collapse straight away. In our experience, there are four stages a troubled company goes through (which we’ve detailed below). It’s important to note that by intervening at an early stage, company directors, bookkeepers and accountants can help to arrest this decline and ensure business continuity

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Taking it personally: how company directors can intervene early to avoid personal liabilities

Are you consistently lodging your Business Activity Statements?

Are you currently paying your employees’ superannuation entitlements?

As a company director, if you answered ‘no’ to either of these questions, you could be held personally liable for the amounts you owe.

This means that, in the event of insolvency, the Australian Taxation Office (ATO) could begin legal proceedings to recover the funds from your personal assets – including houses, cars and investments.

Let’s take a step back and consider recent changes

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