The Queensland Government introduced changes to reduce red tape and improve internal governance for incorporated associations, including those that are registered as charities, effective 1 July 2023.

These changes which relate to remuneration disclosure and internal grievance procedures are detailed in this article from our experts.

New rules about disclosure of spending and donations received on referendum matters have come into force and apply for the first time in respect of the Indigenous Voice to Parliament Referendum.  The rules apply where spending or donations received are $15,200 or more.

Effective governance and risk management is critical for NFPs to help navigate the Coronavirus (COVID-19) pandemic crisis.

Your community, organisation , partners and donors are now facing a significant number of critical risks and recognise we are in a crisis scenario. 

Risk management at this time is a proven and effective tool to guide NFPs in their planning, mitigation and response to the issues and challenges they will be facing now and in the next few months. 

ED 295 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities proposes to replace the current Reduced Disclosure Requirements (RDR) framework with a Simplified Disclosure Standard. All entities currently using the RDR framework will fall into this new regime. It is important to note the proposals in ED 295 are closely linked to those expected in the forthcoming Exposure Draft on the proposed removal of special purpose financial statements (SPFS).

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Many NFP boards have set out to attract not only industry professionals but also legal, tax and media specialists to assist them in achieving their aims while minimising risk. While volunteer board members may not expect to be rewarded for their services, the absence of any remuneration can leave them unduly out of pocket.