Australian Charities and Not-for-profits Commission (ACNC) – reporting obligations part 1

What are my reporting obligations under ACNC?

If you are a registered charity or not-for-profit (NFP) entity and were registered prior to 1 July 2013, then you will continue to be registered with Australian Securities and Investment Commission (ASIC) and have reporting obligations to them.  After 1 July 2013 all charities and NFP’s are required to comply with the ACNC Act 2012 for their reporting periods.

Under the ACNC Act the requirement is “charities to keep adequate financial records that will enable the preparation of true and fair financial statements”  – the level of review or audit was discussed in a previous blog:


What type of financial reports do I need to prepare?

Registered charities (medium or large) will need to decide if they are classified as reporting entities or non-reporting entities.  Reporting entities are required to prepare general purpose financial reports (GPFR) and non-reporting entities can report as special purpose financial reports (SPFR).  The ACNC website has a good checklist on what you need to take into consideration when registering your organisation and what set up you should have:

Entities that report under the general purpose financial reports can apply to implement reduced reporting requirements (RDR) version of reporting under AASB 1053 Application of Tiers Accounting Standards.  This was introduced to reduce the burden of charities (and other organisations) burden that arises from full reporting.


When do I have to report?
The ACNC reporting period runs from 1 July – 30 June, entities are able to run substitute dates to these but have to notify ACNC of this change and have it approved, this is a once of notification.

All entities that report to ACNC are required to complete their annual statement within six months of their end of financial year.  For a financial year ending 30 June, reports need to be lodged by 31 December of that same year.  For financial year ending 31 December, reports will need to be lodged by 30 June of the following year.


What do I need to report each year?

Every entity that is registered with ACNC needs to complete their annual activity statement (supplied by ACNC) and lodge within the periods above.  For medium and large entities that have either been reviewed or audited, there are certain criteria that needs to be reported as part of annual report.

In the next blog, we will look at the financial reporting requirements to the ACNC and the difference in reporting for a review and an audit.



Our focus is on providing a high quality service to our clients and if we can value add by facilitating greater understanding of the relevant principles and strategies to be best prepared for an audit, then we’d love to assist.  We are more than happy to assist you with you reporting requirements for the ACNC.  Even if you are located in a remote area, CB Audit is here to help. Please contact us to discuss any queries on 1300 CBAUDIT (1300 222 834).


If you are not a current client and would like more information on our services, please contact Matt Williams through [email protected].