Proposed new requirements for financial reporting

I spent a happy three hours the other day attending a seminar on Proposed Accounting and Auditing Requirements for Not-for-Profit Organisations. The background is that the government will later this year pass an act which will require financial accounts to be prepared as per standard templates.
Accountability is important for all organisations and financial and non-financial information is key to this accountability.
Starting 1 April 2015 reporting will be in a different manner which will give a little less financial information and quite a lot more non-financial information.
Watch this space as it is not yet set in concrete.

John Armstrong - Acting Treasurer