Checklist: protecting your charity against terrorism financing

Meet record keeping obligations

Does your charity keep up to date financial and operational records, including records of its activities and the details of any third parties involved?

Under the ACNC Act, your charity must keep two types of records: financial records and operational records. A record is an account in permanent form (e.g. in writing) of facts, events or transactions that shows your charity has operated or acted in a particular way, or spent or received money or other assets (made a transaction).

Keeping good records of both your financial and operational activities will make sure that it is easier to detect if charitable funds are being misused or diverted to another purpose.

Questions to ask about record-keeping

  • Does your charity monitor and keep records of the performance of its projects?
  • Does your charity keep financial records of income, expenses and financial transactions?
  • Does your charity have detailed budgets for each project and generate regular reports  on the progress of each project?

Steps you can take