For Impact is HLB Mann Judd’s regular newsletter for the not for profit community.
In Issue 45 we address governance, financial reporting insights, ethics, fraud, ACNC updates, wages, NDIS, fundraising & giving funds.
A summary of the key points:
Governance
- Directors fined for DIN non-compliance
Two New South Wales directors were recently convicted and fined $10,000 each for failing to comply with director identification requirements.
Wages
- Payday super commenced 1 July 2026
Payday super is now in effect. Since 1 July, employers must ensure super contributions are received by employees’ funds within seven business days of each payday.
Financial Reporting Insights
- Tier 3 standard arrives
AASB 1061 General Purpose Financial Statements – Not-for-Profit Private Sector Tier 3 Entities introduces a streamlined general purpose reporting option for not-for-profit private sector Tier 3 entities, focusing on the information that matters most to users of smaller NFP financial statements.
Ethics
- Ethics Q&As on using technology
The International Ethics Standards Board for Accountants has released Snapshots Ethics and Independence Approach to the Use of Technology providing a concise, non technical overview of seven common ethics and independence questions.
Fraud
- It could happen to you
Assuming “it won’t happen to us” can increase an NFP’s exposure to fraud.
ACNC
- ACNC guides charities on investing
The Australian Charities and Not-for-profits Commission has released new guidance to help charities considering investing surplus cash.
NDIS
- New NDIS powers introduce tougher penalties
Federal parliament has passed significant legislative reforms aimed to strengthen the safety, quality, and integrity of the National Disability Insurance Scheme.
Fundraising & Giving Funds
- NSW ‘authority’ to raise funds changed
From 1 April 2026, ACNC registered charities no longer needed to apply for or renew a NSW charitable fundraising authority.