For Impact is HLB Mann Judd’s regular newsletter for the not for profit community.
In Issue 30 we address NFP governance updates, ACNC activities, financial reporting insights, compliance, fraud and governments.
A summary of the key points:
NFP Governance Updates
- Boards fail to formalise cybersecurity measures
A new study surveyed more than 850 directors for the Boards and Cyber Resilience study, which investigated board preparedness for cybersecurity incidents and the state of benchmarking.
- Guidance on effective AGMs
The Governance Institute of Australia has issued a comprehensive guide to holding AGMs under laws that now allow hybrid and online options.
- ACNC urges charities to consult website
The Australian Charities and Not-for-profits Commission is urging charities to consult its website for practical guidance and tips to simplify the filing of annual information statements.
- Elections spark interest in charity advocacy
With elections on the horizon, ACNC acting commissioner Deborah Jenkins said it was important that charities understood their freedom to advocate for or against an issue.
Financial Reporting Insights
- Tier 3 reporting approaches slowly
The Australian Accounting Standards Board has published a discussion paper, the first step in revising the NFP private-sector financial-reporting framework.
- Tasmanian provider underpays staff
A Tasmanian disability-services provider has committed to repaying staff after discovering that they had been underpaid for years.
- NFP Directors need Directors IDs
The ATO has reminded directors of NFP organisations and clubs registered with the Australian Securities & Investments Commission to get their directors IDs.
- President stole from his football club
A former president of the Gungahlin United Football Club has been found guilty of stealing more than $31,000 from the club.
- Queensland cuts charities red tape
Red-tape cuts for Australian charities that conduct fundraising are comprehensive, the latest reform in Queensland.