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Charities & Not-For-Profits Law in Australia

COAG Regulatory Impact Statement released for Consultation

Posted in Compliance, Fundraising, General, Governance

AustraliaSummary – COAG has released the Regulatory Impact Assessment (RIA) of potential duplication of governance and reporting standards for charities.

On 25 January, COAG released a Regulatory Impact Assessment (RIA) concerning potential duplication of governance and reporting standards for charities.

COAG says the purpose of the RIA is to identify and quantify the extent of duplication between existing and proposed governance standards and reporting requirements on charities, with a view to assisting a final report to COAG to determine whether it is a problem that would warrant government action.

The RIA process provides stakeholders with an opportunity to provide feedback on the extent of regulatory duplication for entities currently regulated by both the Australian Charities and Not-for-profits Commission (ACNC) and State/Territory regulators.

The feedback from this consultation will feed into a final report containing a range of options to reduce regulatory duplication. This report is likely to be provided to COAG in early March 2013.

Interested parties are invited to comment and the closing date for submissions is 21 February 2013. Submissions will be made publicly available on the Treasury website unless there are specific requests for some or all of a submission to be kept confidential.