Not-for-Profit Boards – It’s time to rethink your model!

By Andrew Bradley on 14/05/20 - Mins to read: 4 minutes

Thought leadership The best performing Boards and Investment Committees (ICs) recognise their primary role is one of governance, not operations and certainly not investing. Fundraising and investment are two big issues NFP Boards and IC’s are struggling with right now. Issues for Fundraisers With fundraising, the basic issue is...
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NFP Financial reporting insights

By William Buck on 14/05/20 - Mins to read: 4 minutes

New SPFS disclosures take effect   Under AASB 2019-4 Amendments to Australian Accounting Standards – Disclosure in Special Purpose Financial Statements of Not-for-Profit Private Sector Entities on Compliance with Recognition and Measurement Requirements, new disclosure requirements take effect for financial years ending on or after 30 June.    You will need...
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NFP ACNC Activities

By William Buck on 14/05/20 - Mins to read: 4 minutes

Annual information statement extensions  The ACNC commissioner has granted a blanket extension to charities with a 2019 annual information statement (AIS) due between 12 March and 30 August.    They will now need to submit their AIS's by 31 August.  The extension will be monitored as the COVID-19 crisis...
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Not for profit Governance

By William Buck on 14/05/20 - Mins to read: 4 minutes

NFP board remuneration  Chartered Accountants Australia and New Zealand has released Remunerating Not-for-profit Directors, which covers key factors NFPs should consider in determining whether those charged with governance should be paid.  The paper includes a checklist highlighting aspects to be considered when contemplating the move.  Among factors are an...
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NFP COVID-19

By William Buck on 14/05/20 - Mins to read: 4 minutes

Institute of Internal Auditors helpful tools The Institute of Internal Auditors helpful tools: Procurement Integrity (Probity) whitepaper – published 2nd April 2020 This whitepaper discusses the importance for organisations to have a formal approach to transparency and accountability in the procurement process, and to outline how this can be achieved....
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Governance

By William Buck on 14/05/20 - Mins to read: 4 minutes

Within the NFP sector, there have been several new governance regulations introduced. The below articles provide a snapshot into the recent changes and key issues to be aware of within the NFP sector that may impact on the governance of your organisation. AICD updates governance principles At a time when...
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