Part 1 Employers and Employees

Q1- What are at least five things a start-up enterprise can do to help their accountant do their job to assist you as the owner of a start-up business? (Dot points with brief comments)

Q2- I have set up a discretionary family trust via an online broker to operate a sole trader business and my wife and I are the trustees of the trust. Someone has told me that my wife and I are at risk of our home being taken if things in the sole trader business go bad, is that true? Provide an explanation to support your answer.

Part 2 The Fair Work Act and National Employment Standards (NES):

Q3- Sets what?

Q4- Applies to which employees?

Q5- Can the employee and employer agree to an employment award, employment contract, enterprise agreement or other registered employment agreement to exclude the NES? Please explain why you understand what is allowable or not allowable.

Q6- What are the minimum workplace entitlements? (Dot points will suffice)

Q7- What must be provided to all new employees? Please provide a list.

Part 3 Insurance

Q7- Name 7 types of insurance that may be relevant to a small to medium enterprise and briefly describe what they cover?

Q 8- What are the types of insurance that you would take out if you were a small to medium business running a widget manufacturing factory that has 5 employees, and why? The second part of this question - which of the insurances are the types you think are essential?

Q 9- If you are a Director of a business enterprise what are some of the events/circumstances that are covered by insurance that is available for Directors and officers of the business? (Dot points only)

Part 4 Privacy and Security

Part 4

• You are the CEO of an online retailer, bound by the Privacy Act
• The receptionists login details were obtained via phishing (an email that tricks the receptionist into providing information they should not to someone external of the company- the attacker)
• The attacker was then able to log into the online retailers computer system at a high level and was able to observe the operation of the computer system over a number of months
• The attacker was able to obtain a copy of a database stored on the retailers computer servers, which contained:

for any users with accounts with the online retailer- their full name, email address, and postcode; and

for those users of the online retailer who had placed an order - all their credit card information, order details and delivery address

Q10-Is the retailer's CEO required to provide notice to any of the individuals involved and why or why not? The second part of the question is, does the OAIC also need to be advised and why or why not?

Q 11- Regardless of what you answered to Question 10, what other steps could the retailer take that would be permissible and reasonable according to the APPs?

Q12- what is an example ladder clause in an employment contract for a key employee that comes into effect when that key employee leaves the company?

NOTE: Please answer keeping the Australian market in mind.