For Impact is HLB Mann Judd’s regular newsletter for the not for profit community.
In Issue 38 we address NFP governance updates, cyber security, ACNC activity, financial reporting and NDIS-related activity.
A summary of the key points:
NFP governance updates
- Payday super progresses
While most employers do the right thing, the Australian Taxation Office estimates that $3.6 billion worth of super went unpaid in 2020–21.
AI & Cyber security
- More guidance needed on AI
Australian businesses need more guidance in adopting safe and responsible artificial intelligence practices, a new report finds.
Compliance
- Sham contracts exploited workers with disabilities
The Fair Work Ombudsman has secured $197,000 in court ordered penalties against a Sydney health and wellness research company for contraventions, including sham contracting involving workers with disabilities.
Financial reporting
- AASB issues annual improvements standard
The Australian Accounting Standards Board has issued AASB 2024-3 Amendments to Australian Accounting Standards – Annual Improvements Volume 11.
Sustainability Reporting
- AASB S1 sustainability disclosure is voluntary
The AASB has published a voluntary AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information and mandatory AASB S2 Climate related Disclosures.
ACNC Activities
- Applying external conduct standards
More than 6 per cent of Australian charities operate overseas in the Philippines, Indonesia, Kenya, Papua New Guinea, and India, the five most preferred countries.
NDIS
- Jail time for NDIS rorters
Two men and a woman have been jailed in New South Wales for their roles in a multi million dollar defrauding of the National Disability Insurance Scheme.