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New guide for NFP annual and financial reporting

A raft of legislative and regulatory change has served as the basis for the latest installment of Enhancing Not-for-Profit Annual and Financial Reporting, a publication by the Institute of Chartered Accountants Australia (the Institute) for the not-for-profit (NFP) sector.

Enhancing Not-for-Profit Annual and Financial Reporting is the fourth edition of the publication to be launched since 2006, and offers guidance to NFP entities in the compilation of financial and annual reports. The publication is produced in collaboration with PwC and CaseWare Australia & New Zealand.

According to the Institute's head of reporting policy, Kerry Hicks FCA, the publication provides NFP entities with practical guidance on best practice reporting, incorporating the recent changes introduced by the Australian Charities and Not-for profits Commission (ACNC) and other state-based regulators.

"Transparent reporting is key for NFPs when communicating with their stakeholders, and this publication provides best practices tools in achieving this. It will also assist these entities in navigating through this period of unprecedented regulatory change," she says.

The 2013 edition of Enhancing Not-for-Profit Annual and Financial Reporting also includes recommendations from the 2011 PwC Transparency Awards and the evolving concept of integrated reporting.

A full copy available is on the Institute's website.

Source: Institute of Chartered Accountants.

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