Australian Charities and Not-for-profits Commission Act Requirements
Aside from regular audits and financial reporting, the Australian Charities and not-for-profit Commission (ACNC) governs the reporting of Private Ancillary Funds (PAFs). PAFs as a structure are becoming an increasingly popular vehicle in the area of philanthropy, in particular due to significant tax concessions. Therefore, PAF’s must meet the reporting and governance obligations of the ATO and ACNC Act, which means they retain transparency and accountability to the public.
At Oak Audit & Assurance, the philanthropy and charity sector is a specific interest area, and as such, we are well placed to take on this style of audit engagement. We have experience in auditing Private Ancillary Funds, and we are positioned to provide an efficient yet thorough audit, prioritising transparency and ease.
Alternative to any audit requirements, should you require accounting or compilation services in relation to your Private Ancillary Fund, we can assist in connecting you with a trusted member of our network of professional alliances. Rest assured, these alliances satisfy independent requirements under professional standards. For more information, click the link below and fill in the form.