Avoid making mistakes in your 2016 AIS

Charities that report using the standard 1 July to 30 June financial year are required to submit their 2016 annual information statements (AIS) before 31 January.

To help charities avoid making mistakes, the ACNC has published 10 top tips:

  • Make sure that your address for service email is not your personal email
  • Will you report as a basic religious charity?  Know the requirements
  • Make sure you select the right activities for your charity
  • Remember to provide financial information
  • Check that the financial information you enter is correct
  • Know your financial report type
  • Will you provide a consolidated financial report? Consolidated financial reports are accepted, but don’t forget that financial-information questions are only for registered charities and not entire groups
  • Make sure you attach all required documents. For medium and large charities these include : statements of profit or loss and other comprehensive income, statements of financial positions, statements of changes in equity, statements of cash flows, notes to the financial statements, reviewer’s report/auditor’s report signed and dated, and signed and dated responsible persons’ declarations about the statements and  notes
  • Preparing a special purpose financial statement? Remember the accounting standards. You need to comply and state that the financial statement is prepared in accordance with the six mandatory accounting standards, and
  • Preparing a general-purpose financial statement? Check the completeness and quality of the related-party disclosures. Make sure you comply with all relevant accounting standards and provide sufficient detail of transactions between related parties and key management­ personnel compensation.

The ACNC has also released a series of instructional videos to help charities to complete their statements.  The screencasts take viewers step-by-step through several obligations.

A checklist covers everything.

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