Key Documents
The Council on Federal Financial Relations CFFR has asked that a framework for increasing harmonised financial reporting thresholds for charities registered with the Australian Charities and Not-for-profits Commission (ACNC) be announced by 30 June 2021. State, Territory and Commonwealth government officials, as the Thresholds Working Group, were tasked with developing this framework.
As part of developing the framework, the Thresholds Working Group is seeking the views of stakeholders on the issues associated with increasing financial reporting thresholds.
To facilitate this, the consultation paper provides a snapshot of the current regulatory arrangements, outlines the proposed new reporting thresholds and sets out the key issues for consideration during the consultation. This information will assist the reader in considering whether the proposed increase in reporting thresholds appropriately balance a reduction in the regulatory burden whilst maintaining suitable transparency of an entity’s operations and finances.
Submissions
18 submissions were received for this consultation, including 1 confidential submission.
