The financial reporting obligations of not-for-profit entities (NFPs) is dependent upon their Constitution, whether the entity is incorporated under the Corporations Act (2001) or the Associations Incorporation Act WA (2015) and whether it is registered with the Australian Charities and Not-for-profit Commission (ACNC). We keep abreast of changes to the Australian Accounting Standards and reporting developments of the ACNC.
At the end of each financial year, we work with your in-house accountant or bookkeeper to ensure your accounting records are fully reconciled and comply with the Australian Accounting Standards. From this we prepare either general purpose or special purpose financial reports, depending on your legal obligations and reporting requirements.
We can also prepare a fully reconciled, cross referenced year end file which provides supporting documentation for all balances appearing in the financial statements. This file forms part of your accounting records and can be provided to your auditor, resulting in an efficient, cost-effective audit with minimal disruptions to your staff. We are happy to liaise directly with the auditor during your audit or review.
