Accounting and Auditing Standards
Read more about Accounting and Auditing Standards.
Basic Religious Charities
A 'Basic Religious Charity' is a registered charity with the purpose of advancing religion and which meets five other set requirements.
Basic Religious Charities are exempt from answering financial questions in the Annual Information Statement, and are not required to submit financial reports or comply with the ACNC Governance Standards.
However those basic Religious Charities that operate overseas will be required to comply with the ACNC’s External Conduct Standards.
More information on Basic Religious Charities.
Bulk lodgement is a process that allows you to submit more than one Annual Information Statement on behalf of multiple registered charities on a single form. More information on bulk lodgement.
Cash and accrual accounting
Cash accounting records revenue when money is received and expenses when money is paid out. Accrual accounting records revenue when it is earned and expenses when they are incurred. More information on cash and accrual accounting.
Charities can report as a group in two ways - as part of a 'joint reporting' arrangement, or a 'collective reporting' arrangement. More information on group reporting.
Review and audit of financial reports
Generally speaking, medium-sized charities can choose to have the financial reports they submit to the ACNC either reviewed or audited. Large charities must have their financial reports audited and submit the financial report and auditor’s report to the ACNC. More information on review and audit.
Transitional reporting arrangements allow the ACNC to accept reporting originally prepared for other government agencies. These include:
- Financial reports lodged by some incorporated associations, co-operatives and fundraisers with state and territory regulators where streamlined reporting arrangements are not yet in place.
- Financial questionnaires and statements lodged by non-government schools with the Federal Department of Education and Training.
- Annual returns and financial reports lodged by Indigenous corporations with the Office of the Registrar of Indigenous Corporations.
More information on transitional reporting arrangements.
External Conduct Standards
The four ACNC External Conduct Standards apply to overseas activities of charities.
From 30 June 2020, charities are required to confirm in their Annual Information Statements whether the External Conduct Standards applied to them in the previous financial year, and, if so, whether the charity complied with the standards.
More information on the External Conduct Standards.
In certain limited circumstances, charities can request that the ACNC withhold details about their organisation so that this information does not appear on the ACNC Charity Register.
More on withholding information from the Charity Register.