The ACNC has conducted a systematic review of the 2014 financial reports lodged by charities and is now in the process of contacting those that have made “significant” errors.
ACNC Commissioner, Susan Pascoe, urged the charities to rectify the mistakes, saying it was important that they take action immediately.
“Charities will not be penalised for making errors at this point in time,” Pascoe said.
Common mistakes included miscalculating totals and errors stemming from charities rounding financial figures to the nearest thousand. Charities identified as having made significant errors will receive an email from the ACNC asking them to review and correct the financial information they have reported.