For Impact is HLB Mann Judd’s regular newsletter for the not for profit community.
In Issue 39 we address NFP governance updates, cyber security, ACNC activity, financial reporting and NDIS-related activity.
A summary of the key points:
NFP governance updates
- ATO checklist promotes good governance
A new ATO checklist is aimed at helping not-for-profits stay up to date with tax, superannuation and industry obligations.
Cyber security
- Cyber security governance principles refreshed
Digital supply chain risks, data governance and regulatory and legislative shifts are some of the key updates in a refreshed Cyber Security Governance Principles.
Fraud
- Charity fraud funded overseas trips
Angela Stathopoulos, has pleaded guilty in the Melbourne Magistrates’ Court to stealing more than $459,000 from a charity that feeds the homeless and supports needy children.
Compliance
- Wages underpayment can earn jail time
From 1 January 2025, intentionally underpaying an employee’s wages and entitlements can be a criminal offence.
Financial Reporting
- ASIC focus areas for 31 December financial reports
ASIC is urging directors, preparers of financial reports and auditors to be aware of the enduring and ongoing focus areas in its surveillance of financial reports for the year ending 31 December (see Appendix ASIC’s ‘enduring’ focus areas for financial reporting).
Sustainability Reporting
- New guidance on aligning financial and sustainability reporting
The International Federation of Accountants has published guidance on coordinating financial and sustainability reporting.
ACNC
- ACNC concerns over Hillsong charities
After serious allegations had been made about the Hillsong Church’s charities, the Australian Charities and Not-for-profits Commission began to investigate Hillsong College’s compliance with the ACNC act and regulations.
NDIS & AGED CARE
- Crackdown on unfair participant pricing
A National Disability and Insurance Scheme taskforce has received almost 3000 complaints about unfair pricing for its participants.