ACNC extends transitional reporting

When the ACNC was introduced, transitional arrangements were put in place to allow the ACNC to accept reports prepared for the state regulators for two years. This allowed charities that were also preparing financial accounts for Consumer Affairs, for instance, to lodge exactly the same set of accounts for the ACNC, even though the requirements are different.

That two year period was due to expire 30 June 2016, but has recently been extended for another year.

Now that its future is secure, it is expected that the ACNC will have more success working with state regulators to reduce duplication in the longer term.

Read the Commissioner’s announcement here.

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