'in principle' endorsement of proposed ACNC Financial Reporting Requirements
Philanthropy and Exemptions Unit
Indirect, Philanthropy and Resource Tax Division
PARKES ACT 2600
Dear Sir or Madam
CCA has reviewed the proposed requirements for annual financial reports under the Australian Charities and Not-for-profit Commission (ACNC) and broadly endorses the approach outlined.
All CCA members have been provided with copies of the explanatory materials and the Exposure Draft Legislation. CCA has not identified any significant compliance issues with the proposed financial reporting arrangements and has not received any feedback from our members indicating that there are any significant concerns.
On the basis of this feedback, our reading of the explanatory materials and the discussions we have had with officers from the ACNC, CCA will not be making a full submission in response to the circulation of the proposed financial reporting requirements.
CCA supports the requirements outlined to ensuring appropriate levels of information and transparency in relation to financial reporting across the not-for-profit sector.
CCA offer this ‘in principle’ endorsement of the approach being adopted and looks forward to working further with the ACNC to ensure any compliance costs are kept to a minimum, particularly on smaller not-for-profit entities.
CEO, Community Council for Australia
14thof February, 2013