Audit & Financial Reviews For NFP/Charities
At Moroney & Associates we specialise in Audit and Financial Reviews of all Small to Medium Not for Profit, Clubs, Associations, Religious Organisations and Charities.
Whether it is and audit or a financial review we apply the same auditing standards as required to be able to provide your association with an audit report for the members. We also like to provide the management team of the organisation with a management letter to assist them in complying with these auditing standards.
It must be noted that if there is suspected fraud or mismanagement of the organisations funds that we cannot guarantee that our audit process will uncover this as it is always based on a sample from the financials.
We accept organisations records to audit all year round and no matter if you operate in a calendar year of a financial year we will be happy to take on your organisations audit work.
If your require further information or a quote that works within your budget please contact us.
Financial Reporting Obligations for NFP Organisations
In Australia, charities can be classified as small, medium or large. Charity size is based on total annual revenue:
· Small charities have annual revenue under $250,000
· Medium charities have annual revenue over $250,000 but under $1 million
· Large charities have annual revenue of $1 million or more.
A charity’s financial reporting and other obligations to the ACNC depend on whether it is considered a small, medium or large charity, and are summarised in the table below.