The fifth edition of ‘Enhancing Not-for-Profit Annual and Financial Reporting’ has been released over at CharteredAccountants.com.au.

This is a valuable resource for NFPs, covering best practice guidance in their reporting and recent regulatory changes, including information for ACNC registered charities.

The guide incorporates the current requirements of the ACNC and other state-based regulators. It also places a focus on transparent reporting, which is a big issue with stakeholders and supporters. As you know, the Admin Bandit software has been designed to encourage and support transparency of accounts.

Over the last three to four years, the sector has seen some significant regulatory changes that impact the nature and extent of NFP financial reporting. The changes in this edition include:

• the introduction of the Australian Charities and Not-For-Profits Commission (ACNC) from 3 December 2012, impacting reporting obligations for charities from 1 July 2013

• changes to the financial reporting and audit requirements of incorporated associations legislation and regulations in some states and territories, including the anticipated introduction of the new Associations Incorporation Act 2015 (WA) from 1 July 2016

• the introduction of the new-format audit report for financial years ending on or after 15 December 2016.

These events have been reflected in the guidance provided in this publication to the extent possible.

The guide is free and can be downloaded here.