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Jul 28, 2023 / News
NFP Newsletter Edition 17 - Fundraising
QLD cuts red tape
In a win for red-tape reduction, charities registered with the ACNC that plan to fundraise in Queensland no longer need to register separately with the state’s Office of Fair Trading.
From May 1, they need only notify the OFT through an ACNC form.
ACNC commissioner Sue Woodward said that removing unnecessary regulatory burdens helped charities keep their focus ‘on helping others’.
She said: ‘Australia’s fundraising laws are complex because they are different in each state and territory, and this places an enormous administrative burden on charities [that] fundraise across state borders’.
AUASB issues bulletin on fundraising revenue
The Auditing and Assurance Standards Board has withdrawn GS 019 Auditing Fundraising Revenue of Not-for-Profit Entities (issued in 2011) as being no longer fit-for-purpose.
It is replaced by Auditing Fundraising Revenue of Not-for-Profit Entities in a Digital Age.
The bulletin aims to assist auditors to address key audit considerations in a digital age when undertaking their planning, risk assessment, performing, and reporting on fundraising revenue.
It highlights current issues related to fundraising-revenue collection and the impacts of collection on audit procedures and reports. It also draws together other AUASB reference materials that NFP auditors might find useful.
The material contained in this publication is for general information purposes only and does not constitute professional advice or recommendation from Nexia Edwards Marshall. Regarding any situation or circumstance, specific professional advice should be sought on any particular matter by contacting your Nexia Edwards Marshall Adviser.
