Institute guidance for not-for-profits

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Key Points

  • The Institute has launched the fourth edition of 'Enhancing Not-for-Profit Annual and Financial Reporting'
  • This year’s edition incorporates the recent changes introduced by the ACNC and other state-based regulators
  • This edition also includes recommendations from the 2011 PwC Transparency Awards and the evolving concept of integrated reporting.

As part of its ongoing initiatives in not-for-profit reporting, the Institute has published the fourth edition of Enhancing not-for-profit annual and financial reporting, which was first launched in 2007. The guidance is a tool designed specifically for the NFP sector to attain best practice in their annual and financial reports, as well as providing an overview of applicable legislation and resources.

Enhancing not-for-profit annual and financial reporting is available in full or by Chapter below:

Background

The 2006 paper included several recommendations to enhance the quality of not-for-profit financial and annual reporting. In February 2007 the Institute then published its first edition of the report Enhancing not-for profit annual and financial reporting, which outlined how these enhancements might be implemented.

The 2013 update

The 2013 edition of Enhancing Not-for-Profit Annual and Financial Reporting incorporates the recent changes introduced by the ACNC and other state-based regulators. It also includes recommendations from the 2011 PwC Transparency Awards and the evolving concept of integrated reporting.

According to the Institute’s Head of reporting policy, Kerry Hicks FCA, the publication offers practical guidance on best practice reporting for the NFP sector.

'Transparent reporting is key for NFPs when communicating with their stakeholders, and this publication provides best practices tools in achieving this...it will also assist these entities in navigating through this period of unprecedented regulatory change,' Ms Hicks says.

The PwC Transparency Awards

The PwC Transparency Awards, undertaken in collaboration with the Institute and the Centre for Social Impact (CSI), recognise and encourage improvement in the quality and transparency of reporting in the Australian NFP sector.

Registrations for the 2013 PwC Transparency Awards are now open, closing on Friday 8 November.

Nominees for the 2013 Transparency Awards will be in the following categories:

  • Generate revenue >$30m (category 1, capped at 30 registrations)
  • Generate revenue >$5m but less than or equal to $30m (category 2, capped at 40 registrations)

The winner and runner-up in each category receive $20,000 and $10,000 respectively towards sending member(s) of their organisation on training and development or study tours. Eligibility criteria are available on the website and for further information please contact Kirstyn Chan via email kirstyn.chan@au.pwc.com or (03) 8603 3015.

Article last updated 23 April 2014

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