What Does An ASIC Agent Do For Your business? And How Does Waive Make it Easy?
You can’t ignore ASIC compliance if you own a business in Australia, but let’s be honest: no one wakes up excited to fill out company forms and corporate registers.
ASIC agents are there to help with that. These quiet achievers are the ones who make sure your business follow all the rules without giving you any headaches. They help businesses stay on the right side of the Australian Securities and Investments Commission (ASIC) by doing things like annual reviews and making company changes such as director updates, changes of address or shareholding.
The ASIC online portal and other tools that ASIC agents have used in the past are not exactly made for speed, scale, or ease of use.
We made Waive, a compliance automation platform, to make ASIC administration easier.
Let’s talk about what ASIC agents do, why their work is important, and how Waive makes things easier for both agents and the businesses they help.
What is an ASIC Agent, anyway?
In short, an ASIC agent is a person/business that is appointed by a company director to do things for a company – handle its responsibilities with ASIC. This is usually an accountant, a corporate services company, or a lawyer who knows how to deal with ASIC’s rules.
They’re the ones who make sure your business doesn’t lose its registration because someone forgot to sign something or make a payment on time.
What Makes ASIC Agents So Important?
Business owners usually don’t think about compliance until something goes wrong – like getting a $93 late fee or having their business deregistered. These problems don’t happen because ASIC agents stop them from occurring. They are the safety net that keeps businesses in line all year long from a tax and ASIC compliance perspective.
That being said, the tools that agents have are often hard to use. The ASIC online portal is still working, but it hasn’t changed much in years. It doesn’t have any automation, the mandatory register documentation, and does not display agency information easily. When you’re in charge of dozens or hundreds of companies, it quickly becomes impossible to keep up with.
That’s where Waive can assist – your compliance co-pilot.
Waive was made to help ASIC agents and the businesses they work with do compliance in a smarter way. It’s not about getting rid of the ASIC requirements – it’s about making them easier to complete.
Here’s how Waive shakes things up:
1. A Dashboard That Works
With Waive, agents can log in and see all the companies they manage right away. They can also see upcoming deadlines, reviews that are still due, and people who haven’t signed a form yet.
You don’t have to switch between the ASIC online portal, an accounting system and juggle spreadsheets anymore.
2. Forms that run on their own
There can be time consuming forms to complete when it comes to managing ASIC compliance. Waive makes it easy and produces all the relevant documents required at the same time.
Form 484s are filled out and ready to go in seconds.
You can sign and track Form 362s online.
Directors can complete their annual review obligations online and in minutes.
With all workflows invlicding the ability to sign digitally and automated lodgement of signed documents, there’s no more chasing down wet signatures or using snail mail.
3. Don’t Ever Miss a Deadline
Waive sends smart reminders to you and your clients long before ASIC fees start to add up. It keeps an eye on ASIC due dates, lets you know when clients are being slack to ensure everything stays on track.
You’ll understand how useful this is if you’ve ever had to pay a late fee because you forgot something.
4. Grow without getting burned out
Waive gives ASIC agents the tools they need to grow their client base without hiring more administrative staff, whether they run 10 businesses or 1,000.
Completing updates across many companies for a client? Done!.
Reviews sent? Two clicks and your client has it all – docs, your invoice, sms & email all in seconds!
You can finally offer a premium compliance service without being buried in paperwork.
In fact, many of our clients are increasing their service fees because of our platform and the tangible benefits it offers their clients.
Waive and the ASIC Online Portal
Let’s be honest. The ASIC online access system doesn’t work for the needs of modern agents in the real world. It’s slow, manual, and doesn’t help your business grow. Waive takes care of those gaps.
Who Should Use Waive?
Accountants and book-keepers who are appointed to help businesses stay compliant and meet their deadlines. It could also benefit legal and corporate advisory firms looking to offer another revenue stream and provide a total corporate compliance solution.
Compliance doesn’t have to be a pain.
ASIC agents are the unsung heroes of corporate compliance, but they’ve been let down by old processes and systems that don’t work well.
Waive changes that. No more fees for being late. No more admin work. Just smart compliance that works with your business as it grows.
