Example disclosure: comparative information not included in the financial report

This is an example disclosure that can be adapted by your charity to cover situations where comparative information is not included in the financial report when reporting to the ACNC.

‘The directors of [name-entity], a registered charity, consider it is a non-reporting entity as defined by AASB 1053 and the special purpose financial statements of [name entity] have been prepared under section 60-30 of the Australian Charities and Not-for-Profits Commission Regulation 2013 (ACNC Regulation). We note that for the [year] reporting period the Commissioner has allowed registered entities meeting certain conditions to not prepare comparative financial information. Therefore, in preparing these financial statements, [name entity] has not provided comparative financial information as required by AASB 101 Presentation of Financial Statements.

Accordingly, these special purpose financial statements comply with the Australian Charities and Not-for-Profits Commission Act 2012 and the ACNC Regulation. With the exception of AASB 101, other relevant Australian Accounting Standards have been applied [indicate the extent to which other Australian Accounting Standards are applied].’