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Nov 24, 2021 / News

Financial Reporting Changes for Charities

The financial reporting thresholds for charities reporting to the Australian Charities and Not-for-profits Commission (ACNC) have now been increased, providing relief to thousands of charities, whilst also requiring Key Management Personnel remuneration and related party disclosures. Read more

Financial Reporting / Not for Profit


Nov 04, 2021 / News

Financial Reporting Developments - Spring 2021

This Financial Reporting Development explains the AASB’s project to address the future of financial reporting for NFP entities and other developments affecting the sector. Read more

Financial Reporting / Not for Profit


Aug 04, 2021 / News

Financial Reporting Developments - Winter 2021

At this time of year, a young accountant’s thoughts turn to the excitement of year end and the joys of having the auditors come round for their annual tea and biscuits. Well, maybe we're being optimistic – or delusional. Either way, at this time of year attention turns to preparing for annual reporting. Read more

Audit and Assurance / Financial Reporting


Apr 20, 2021 / News

Financial Reporting Developments - Autumn 2021

The Australian Charities and Not-for-profits Commission (ACNC) was established in 2012 as the national regulator of charities in Australia. At that time, the ACNC Act introduced financial reporting requirements for charities which varied depending on the size of the charity, where size was based on the charity’s total annual revenue for the relevant reporting period. Read more

Financial Reporting


Feb 12, 2021 / News

Financial Reporting Developments - Summer 2021

Nexia Australia Technical Director Martin Olde discusses matters affecting 31 December 2020 reporting; planning for the removal of special purpose reports and the replacement of general purpose RDR; and the commencement of payment times reporting by large companies. Read more

Financial Reporting


Nov 19, 2020 / News

Financial Reporting Developments - November 2020

Nexia Australia Technical Director Martin Olde discusses ASIC’s recently announced extension reporting deadlines and the impacts on companies of the Parliamentary Joint Committee’s inquiry into auditing.  Read more

Financial Reporting


Aug 24, 2020 / News

Financial Reporting Developments

Another financial year has ended. This time last year, no one could have anticipated that within the year we would be dealing with a health and economic crisis that has devastated so many Australians. Read more

Audit and Assurance / Financial Reporting


May 29, 2020 / News

Extension of ASIC reporting deadlines for 30 June 2020

In response to business disruptions caused by COVID-19, the Australian Securities and Investments Commission (ASIC) has announced a one month extension of the reporting deadlines for companies to lodge their audited financial reports under Chapters 2M and 7 of the Corporations Act 2001. The extension applies to both listed and unlisted companies with a balance date up to and including 7 July 2020. Read more

Audit and Assurance / COVID-19 / Financial Reporting


May 18, 2020 / News

IASB revises treatment of COVID-19-related rent concessions

The Australian government’s mandatory Code of Conduct for Commercial Leases introduces a range of rent concessions for lessees, including rent reductions and rent deferrals. Read more

Audit and Assurance / COVID-19 / Financial Reporting


May 07, 2020 / News

Financial Reporting Developments

The AASB has been very active during the past two months, issuing a number of new requirements. Nexia Australia Technical Director Martin Olde highlights some of the key changes as well as financial reporting considerations relating to COVID-19. Read more

Audit and Assurance / COVID-19 / Financial Reporting


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