Not for Profit News Spring Edition

Welcome to the Spring Edition of Not For Profit News

Welcome to the Spring Edition of NFP News.

The year is rapidly passing us by and with the warmer weather approaching many of you with June balance dates will have just concluded your statutory reporting and audit season and be preparing for your annual general meetings. Having attended many AGMs in the not-for-profit sector over the years I know they can be a great opportunity to show the local community the great work and services that you provide and I wish you every success with these.

In this edition of NFP News we have a number of highly topical articles. A new publication  “Australia’s Aged Care Charities in 2015” outlines the important role that the aged care charities play in the community and there are some very interesting findings reported. Information on the streamlined 2017 Annual Information Statement is provided, along with the ACNC’s latest red tape reductions in relation to duplicate reporting obligations. From an accounting standard perspective we take a look at the new AASB 1058 “Income of Not-For-Profit Entities” and an excellent table on Fraud tools and tips is provided along with access to more detailed information in this area.

I hope that you find the articles produced in this edition of NFP News helpful to you and your organisation. As always if you would like to discuss any aspect of the newsletter or any auditing or accounting related matters, please feel free to contact any of the NFP team at William Buck.


Financial reporting

Fraud and NOCLAR