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Welcome to the newest edition of our Not-for-Profit Newsletter. Please feel free to contact us if you have any questions about the content of this Newsletter. Read more
Welcome to the newest edition of our Not-for-Profit Newsletter. Read more
This edition covers several governance and compliance considerations including self-assessing income tax exemptions, deductible gift recipient registration requirements, and cybersecurity matters. In respect to financial reporting, we have included details of the latest ASIC focus areas and updates to accounting standards. There are also a number of items relating to ACNC and government activities. Read more
From 2022 for-profit entities required to lodge financial reports with regulators have to prepare either Tier 1 or Tier 2 general purpose financial statements. The AASB is intending to extend this requirement to not-for-profit entities (NFP), which would affect ACNC–registered charities, co-operatives, NFP companies limited by guarantee, and others. But before doing so, it has issued a Discussion Paper detailing a proposed new third tier of general purpose financial statements. Read more
This edition covers important changes to financial reporting requirements for charities around financial statement disclosures, reporting thresholds, key focus areas and lodgement extensions. Read more
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
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
This edition covers a number of financial reporting matters including commentary on the lodgement of incomplete financial reports, proposed changes to reporting thresholds, and ACNC best-practice disclosures. Read more
Welcome to the newest edition of our Not-for-Profit Newsletter. Please feel free to contact us if you have any questions about the content of this Newsletter. Read more
This edition has a continued focus on the impacts on the current COVID-19 pandemic with articles on the impact on board practices and guidance on reporting. Read more