What concessions have Australian regulators provided to not-for-profits, including charities, incorporated associations, fundraising licensees and companies limited by guarantee during these challenging times? Here’s a guide to the relief provided in various jurisdictions.
Statutory reporting by Australia's charity sector is changing. The end goal is a more streamlined reporting system to improve transparency and good governance to facilitate the vital functioning of charities.
The Australian Accounting Standards Board has made major inroads into decoupling its Australian Accounting Standards framework from special purpose financial statements.
Nhìn chung, việc đánh giá "hoạt động liên tục" của doanh nghiệp là một công việc khá thường xuyên, tuy nhiên trong những thời điểm bất thường như hiện nay không có một quy trình nào là đơn giản như đã từng được thực hiện.
The business sector’s “going concern” assessment is generally a rather routine practice, but in extraordinary times no process is as simple as it once was.
Having considered stakeholder feedback, the AASB decided to grant a temporary exemption for peppercorn lease accounting while it considers its next steps. A temporary exemption provides timely relief to the not-for-profit (NFP) sector when dealing with peppercorn leases.
Giving charity schemes a second look: A review of the ACNC, Australia’s charities and not-for-profits regulator, calls for a national scheme for the charity sector.
The final report from the Independent Panel tasked with a review of the Australian Charities and Not-for-profits Commission (ACNC) legislation was released on 22 August 2018. Initial reading indicates a broad-reaching and far-sighted review, with a balanced and objective set of recommendations tackling the big issues facing regulation and reporting in the sector.
The AASB has proposed to call time on special purpose financial reporting in Australia, which will have sweeping implications.
While the Australian Charities and Not-for-profits Commission has come a long way in its five-year existence, Ram Subramanian believes further good can be done.