AASB Research Report 11 findings indicate that for the 36% of charities lodging special purpose financial statements (SPFS) with ACNC, the transparency of these SPFS is poor. Only 26% of charities preparing SPFS state whether they comply with all recognition and measurement (R&M) requirements in Australian Accounting Standards, 30% state they do not comply, and for the remaining 44%, it is not clear whether or not they complied with R&M requirements.
To view further detail on the AASB Research Report, click here.