ASIC Check

What does an ASIC check involve?

ASIC, the Australian Securities and Investments Commission, maintains the register of companies operating in Australia. An ASIC check looks up a company in that register to confirm it is registered, its status is current rather than deregistered or under external administration, and its details such as registered name and directors match what a supplier has told you. A concrete example: before adding a new professional services firm to your payment run, an ASIC check confirms the company is registered and in good standing, and that the person signing the engagement is listed as a director rather than an unrelated third party.

Why it matters for Australian finance teams

Company details on an invoice or engagement letter can be copied, altered, or invented. An ASIC check grounds those claims in the authoritative government register, which matters when a supplier is new, when large sums are involved, or when a payment change request arrives out of the blue. For accounts payable teams, it reduces the risk of paying shell companies or entities in administration, and supports the customer and business identification expected under AML/CTF obligations regulated by AUSTRAC.

How ezyshield helps

ezyshield confirms the person, the business via ABN and ASIC records, and bank account ownership before money moves, so a company’s standing is checked and tied to the account you intend to pay. If details change, any change triggers re-verification, and every check is written to an append-only audit trail, logged and never edited or deleted. See how it works and our guide to supplier verification in Australia.