Not For Profit Accounting & Audit Services in Sydney
Welcome to KS Black & Co, specialists in not-for-profit accounting and audit services in Sydney. We work with charities, foundations and not-for-profit organisations, providing independent assurance and tailored financial support across Australia.
The regulatory and operating environment for the sector continues to evolve, we recognise the heightened pressures on not-for-profits in today’s landscape – facing increased demand for services, evolving regulations, and rising expenses.
Our dedicated team of auditors in Sydney is equipped with the expertise required to navigate the distinctive challenges of not-for-profit audits. Our services cater to a diverse range of entities, including:
- Charities
- Foundations
- Not-For-Profit Organisations
- Community groups and associations
- Religious organisations
Understanding the dynamic environment in which not-for-profits operate, we acknowledge the unique needs and challenges they face. As a leading not for profit accounting firm, we tailor our approach to each engagement, working closely with organisations to gain a deep understanding of their operations, objectives, and risks.
Not For Profit Audits for Charities and NFP Organisations
Beyond our not-for-profit audits, KS Black & Co provides specialist accounting support tailored to the regulatory framework that applies to charities and NFPs across Australia. We assist organisations in meeting their financial reporting obligations under Australian Accounting Standards, including AASB 1058 and AASB 15, ensuring accurate treatment of grant income, donations and restricted funds.
Our not-for-profit accounting services include financial statement preparation, ACNC reporting support, board reporting and governance advice. We work with management and boards to strengthen internal financial controls and ensure compliance remains aligned with your organisation’s structure and funding requirements.
Special Considerations for NFPs & Charities Under ACNC
For charities registered under the Australian Charities and Not-for-profits Commission (ACNC), differing levels of assurance are mandated based on their turnover.
As of 1st July 2022, reporting thresholds and financial reporting obligations have changed. The ACNC now defines small charities as those with an annual revenue of less than $500,000. These charities may not require an ACNC-mandated audit or review, with the regulator accepting an Annual Information Statement alone. However, exemptions may not apply universally.
Smaller not-for-profits might still require an audit based on their constitution or due to specific funding arrangements, which may necessitate providing acquittals or audited reports.
For medium and large charities, the ACNC requires your financial reports to be reviewed or audited by:
- a registered company auditor (as defined by the Corporations Act 2001)
- an audit firm, or
- an authorised audit company.
As a registered company auditor, we recognise the importance of aligning our services with the specific requirements of not-for-profit clients. Our commitment is to provide relevant and timely advice, ensuring that your organisation’s mission is supported with integrity and precision.
Contact Us for Your Not-for-Profit Auditing Needs
Whether you are navigating the latest regulatory changes or seeking tailored auditing services, we are here to uphold the highest standards of accountability for your charity or NFP audits. Should you have enquiries or wish to discuss your not-for-profit auditing and assurance requirements, our specialised team of Western Sydney-based auditors is ready to assist you. Feel free to contact us at 02 8839 3000 today.
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