Guide to Manage Charity Reporting Obligations
Tuesday, 15th October 2013 at 1:56 pm
Accounting peak body, CPA Australia, has released a ‘first of its kind’ guide focussed on helping Australian charities meet new financial reporting obligations.
CPA Australia chief executive Alex Malley FCPA said the new guide, Charities – A guide to financial reporting and assurance requirements, provides charities with a detailed explanation of the new requirements established following commencement of the Australian Charities and Not-for-profits Commission (ACNC) on December 3, 2012.
“The new arrangements mean some new requirements when it comes to financial reporting, and in some cases this will be the first time that charities have to compile this kind of data.
“Through this guide, we’ve attempted to lighten the load by spelling out, in plain English, what the reporting requirements are and by giving charities some easy to use, comprehensive checklists and other helpful resources to make the task easier.”
Malley said the guide also included advice for the many CPA Australia members who are involved in the sector. This includes many members who provide pro bono services to the charitable sector and assist individual organisations in meeting their reporting requirements.
“CPA Australia has a proud track record in supporting our members to undertake pro bono work, recognising that for some organisations enlisting professional support can simply be too expensive.
“One way we support our members is by providing complimentary professional indemnity insurance coverage to any member performing pro bono and voluntary accounting services in the community.”
The Charities – A guide to financial reporting and assurance requirements is available for download here.