Not for Profit
Audit & Accounting
Not for Profits need to prove financial accountability to meet transparency expectations. Without structures in place to demonstrate reliable accounting practices, charity organisations will not get the community support they need to succeed.
Juggling these requirements can be challenging. But peace of mind is achievable with the help of DFK Crosbie.
“The big picture is that Not for Profits bring benefits to whole communities. But that can’t happen unless they’re compliant and operate a viable financial model. That’s where DFK Crosbie can help.”
– Partner at DFK Crosbie.
NFPs must manage their accounts accurately and report end of year financial information to the Australian Charities and Not for Profit Commission (ACNC).
Going beyond these formal standards, organisations have further responsibilities to the community. Not for Profits need to prove financial accountability to meet transparency expectations. Without structures in place to demonstrate reliable accounting practices, charity organisations will not get the community support they need to succeed. Juggling these requirements can be challenging.
Not for Profit accountants should manage your organisation’s accounting practices as they would any other enterprise’s to ensure the highest standards are met. This insight starts with addressing common reporting mistakes made by Not for Profits like:
- Miscalculating key figures in the annual information statement.
- Incorrectly reporting unrelated financial information about the charity.
- Failing to reference key legislation such as the ACNC Act and other mandatory accounting standards in financial reports.
Medium-to-large sized ‘Not for Profits’ are required to submit financial reports that have been reviewed or audited by a registered professional. But auditing your organisation’s financials shouldn’t just be seen as a tick-box exercise – expert analysis assures that your Not for Profit is compliant with ACNC requirements.
Not for Profit
At DFK Crosbie, we provide you with the following services:
Why DFK Crosbie?
We work with medium-to-large charity organisations to remove the stress from meeting ACNC governance requirements and community expectations. We go beyond meeting basic standards to drive growth in operational systems and processes.
To be mentally at peace about the future of your NFP is hard to achieve without dedicated insight. Our accounting and auditing team is composed of senior partners, experienced accountants and auditors in the Not for Profit industry, meaning we have the knowledge base to address any concern.
A Partner for Success
We don’t consider ourselves consultants – we believe in year-round engagement with your organisation to help with anything required. Our team are advisers, sounding boards and offer guidance in helping you get the best out of your Not for Profit, encouraging your operations to wholeheartedly reflect your community goals. The Not for Profit sector can be challenging. But with DFK Crosbie as your partner you can begin your path to success, safe in the knowledge that your organisation’s finances are in good hands.
DFK Crosbie’s accounting team helps you with all of your reporting requirements including regular management of financial information and maintaining tax records. But we go beyond these basic tasks to recommended key changes to your Not For Profit that could lead to real improvements, now and into the future. Specialist interpretation of your business’ crucial accounting data helps to tell a story about how you stand and the possibilities ahead with strategic guidance and savvy financial decisions.
A DFK Crosbie audit goes beyond the scope of a simple report review, giving organisations the chance to turn key insights into strategies for driving improvement across all areas of operation.
Our auditing team thoroughly reviews your reports for financial accuracy and ACNC compliance regulations relevant to your budget and income. We then prepare a report to the Board with our findings, analysis and recommendations.
Treat your Not for Profit like an enterprise
Not-for-Profit (NFP) organisations aren’t run with making money in mind – but that doesn’t mean they should be managed with a lax attitude to proper business process and good governance.
In fact, one of the defining features for organisations and clubs in this sector is the need for accountability and strategic planning. Keeping on top of these important day-to-day elements is only possible if you treat your NFP like a functioning enterprise. This is paramount for charity groups that want to survive and thrive in the Australian NFP sector.
Audit and Business
Audit and Business
Schedule a Consultation
Get in touch with us to schedule your appointment and discuss how we can help your organisation!