Yesterday the Government released the draft Governance Standards and Financial Reporting Regulations (together, the Regulations) as part of the reforms to follow the newly operational Australian Charities and Not-for-Profits Commission (ACNC). The Consultation Paper on the Governance Standards
ACNC Still a Hot Topic
The new Not-For-Profit regulator, the Australian Charities and Not-For-Profits Commission (ACNC), remains a hot topic across the sector. With ramifications for every charity, community cause, and religious organisation, as well as the economy and the wider community, the new regulator has been on many people’s minds.
To gauge stakeholders’ views and provide a platform for NFPs and community organisations from across Australia to have their say on the ACNC and other issues affecting the sector, Makinson & d’Apice commissioned unbiased, independent research – and the results are now in!
Makinson & d’Apice Partner, Bill d’Apice, said “This was a big investment again this year on our part for the benefit of the NFP sector.”
Today the Governor General assented to the Australian Charities and Not-For-Profits Commission Act 2012 and the Australian Charities and Not-For-Profits Commission (Consequential and Transitional) Act 2012 (ACNC Acts).
Who is regulated by the legislation?
Although the title of the legislation extends to charities and Not-For-Profits, at this stage the ACNC Acts only cover “charities”, with the possibility for Not-For-Profits (who are not charities) being regulated under the ACNC Acts at a later stage.