There are more than 600,000 not-for-profit entities in Australia, including 60,000 registered charities. It is important for preparers and auditors to know about recent developments so that risks are identified and managed. NFPs are exposed to business risks such as wages underpayment, fraud, and cyber-attacks.
The Australian Charities and Not-for-profits Commission’s legislation and activities affect registered charities. Many in the NFP sector view ACNC requirements as best-practice, and issues faced by some charities often have relevance for other NFPs here in Australia and New Zealand. Let’s see what we can apply.
This session will focus on:
- Compliance risks, such as wages underpayment and fraud
- AICD’s third edition of its Not-for-Profit Governance Principles
- New resources on AI
- NFPs help on cyber-security
- Recent ACNC activities – 10th edition of the Australian Charities Report, ACNC corporate plan, insights from the ACNC’s annual report, and governance-standards reminders
- Charity fraud findings
- NDIS – compliance risks and fraud
- ATO reporting requirements – organisational details, income-tax exemption eligibility, and summary and declaration
- Update on the AASB’s 3rd-tier reporting standard, and
- Other contemporary external reporting issues affecting NFPs.
