ACNC Website Gets a Revamp

The updated Australian Charities and Not-for-profits Commission website is being met with positive feedback from the sector, after a four day website closure to fix speed and accessibility issues. The ACNC reopened their website on Monday morning, and said while the web content remained the same, the site had a new look, the charity register was now faster and easier…

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The IASB has issued amendments to its definition of material to make it easier for companies to make materiality judgements. The updated definition amends IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors The amendments clarify the definition of material and how it should be applied by including in the definition guidance…

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On Friday, the ACNC’s 2017–18 Annual Report was tabled in Parliament. This document details the ACNC’s work over the last financial year, highlighting the successes of the organisation during a period of substantial change and transition. Some of the ACNC’s notable achievements in 2017–18 include: A $3 million IT upgrade project that resulted in the launch of a new and…

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The Commissioner of the Australian Charities and Not-for-profits Commission (ACNC), Dr Gary Johns, was referred to the Indigenous Affairs Minister over his “offensive” comments about Indigenous women, environment charities and LGBTQI+ rights. Johns was asked if past statements – including when he said Indigenous women are being “kept pregnant and producing children for cash” – could suggest he held a…

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The Canadian government’s move to broaden the freedom of expression for charities has been labelled a win for the nation’s charitable sector. The government issued a motion last Thursday indicating it would remove the limits on political activities for charities, allowing organisations to engage in non-partisan political activities when this is in pursuit of a charitable purpose. Canada Without Poverty…

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It seems there is no end to the sorry saga of CPA Australia, with news recently emerging that a group of rebels within the accounting body is actively seeking to obtain crowdfunding to mount a legal case against the old board. What I find particularly interesting is that their contention that the old board directors were in breach of their…

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Australians have lost more than $320,000 to charity fraud this year as scammers increasingly turn to creating fake charities or impersonating real ones. The Australian Competition and Consumer Commission’s Scamwatch has received 689 reports of fake charity scams in 2018, and reported losses have increased steadily over the past four years. The ACCC reported scammers have been approaching people on…

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We know that the end of year can be a busy time for many businesses. ReturnToWorkSA’s current process is too complex and onerous for employers. We propose to make a number of changes to improve this process for employers. You will no longer need to provide estimated remuneration for your business for the upcoming year. Instead, actual remuneration for the…

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With Australian financial reporting poised for significant upheaval, Nick Walker, partner in audit and assurance at HLB Mann Judd, explains what the introduction of new accounting standards means from a financial report user’s perspective. The financial operating results and the balance sheets (statements of financial position) of not-for-profit entities will potentially undergo significant changes for financial reporting periods commencing on…

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A man accused of stealing more than $400,000 from the National Disability Insurance Scheme has been charged by the government’s NDIS fraud squad. Police allege the 34-year-old Victorian man defrauded the NDIS between July and August this year, and used the money to buy a BMW 7-Series limousine, a Toyota Hilux, designer clothing and jewellery. This week, a team from…

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