10 November 2020
Many businesses are being affected by challenging economic conditions. You may be thinking about pausing, changing, or permanently closing your business.
When making these decisions, it's important to get advice from a registered professional. That could be an accountant, lawyer or registered insolvency adviser.
Be wary of advisers who may recommend inappropriate or illegal actions.
Untrustworthy or unregistered advisers may suggest things such as removing assets before a business is wound up.
Watch out for red flags including:
If you follow inappropriate or illegal advice, you put yourself at risk. You could receive a fine, criminal conviction or even a jail term.
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