The AICD has provided a submission to the government’s statutory review of the Australian Charities and Not-for-profits Commission (ACNC).
Our submission supports the continued operation of the ACNC and puts forward the view that, broadly speaking, its legislation or regulatory approach does not require major revision. However, we propose some refinements to the framework that could improve its operation including:
- Amending the Australian Charities and Not-for-profits Commission Act 2013 (Cth)(ACNC Act) to prioritise the ACNC’s first object as its dominant object;
- (ACNC Act) to prioritise the ACNC’s first object as its dominant object;
- Undertaking a review of the reporting framework (such as revising reporting tiers and the use of special purpose financial statements);
- Increasing disclosure of related party transactions;
- Provide the ACNC Commissioner with the ability to disclose the context and rationale for their enforcement decisions; and
- Undertaking a review of the ACNC Register to ensure that it meets the needs of users.
- The AICD was also invited to provide its views in person to the government-appointed expert review panel.
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