Project dates: 01/01/2020 - Ongoing
This project investigates the roles of assurance in not-for-profit organisations in Australia. Australia has seen significant regulatory and reporting modifications in the charity and not-for-profit (NFP) sectors since 2013. The Australian Charities and Not-for-Profit Commission (ACNC 2013) specifies various levels of reporting obligations and audit requirements for charities based on their size, in which, from the 2014 reporting period, median and large NFPs have been obliged to have their financial reports reviewed or audited. Specific challenges exist in auditing NFPs due to the nature of how the resources are required and reported. Moreover, transparency and accountability of NFP organisations are still open issues criticised by public and stakeholders. How assurance contributes to the governance framework of NFPs has become an empirical and practical issue for the NFP sector, the regulators and academics.