Online or Cyber fraud is "any type of fraud scheme that uses email, web sites, chat rooms or message boards to present fraudulent solicitations to prospective victims, to conduct fraudulent transactions or to transmit the proceeds of fraud to financial institutions or to others connected with the scheme."
Employees can leave an organisation in a number of ways, from death to termination, to resignation.
Understanding how to ensure they are paid out correctly, and that the payments for super and tax are met, is an essential function of keeping a nonprofit on the right side of its obligations.
The Australian Tax Office has a guide to assist employers at this important time. Link
The Australian Charities and Not-for-Profits Commission has a guide for current and potential board members of Australian charities.
This guide focuses on "good governance and how it helps charities in the context of their obligations under the ACNC Act". It highlights legal obligations as well as the 'nice to have'. The basis of the guide is that there is always "something you can do to improve your knowledge and the governance of your charity."
Download the guide in full or in sections from here.
Audit obligations for not-for-profit organisations are driven by many factors, and in some cases an audit may not be required at all. There are some common requirements between ACNC, ASIC and the State and Territory regulators, and the requirements vary. Our CEO Kirsten Forrester has summarised the various obligations for non-profits.
Financial performance will definitely improve if it is measured, and the reporting is accurate, readable and timely. It is why spending time and resources on financial reports which are meaningful is the best way to achieve success in your organisation.
Here are some upcoming dates which are critical for financial management compliance.