The ACNC works closely with organisations that set accounting and auditing standards, particularly on matters relating to the charities and not-for-profit sector.
Australian Accounting Standards Board
The Australian Accounting Standards Board (AASB) is the Australian Government agency responsible for developing, issuing and maintaining accounting standards.
Accounting standards set out the required accounting treatment for particular types of transactions and events.
There are also accounting interpretations which specify the requirements of standards in relation to particular transactions or events. These accounting requirements affect the preparation and presentation of a charity’s financial statements.
The AASB regularly issues exposure drafts and consultation papers as part of their consultative process before making a new Australian standard or amending an existing standard.
Visit the AASB website to view any exposure drafts or consultation papers, and to participate in consultation processes.
Australian Auditing and Assurance Standards Board
The Australian Auditing and Assurance Standards Board (AUASB) is the Australian Government agency responsible for developing, issuing and maintaining auditing and assurance standards.
Auditing standards set out the requirements and provide application and other explanatory material on the responsibilities of the auditor and the assurance practitioner when undertaking an audit or review of the financial report.
The standards also set out the requirement of the form and content of the audit or review report. The ACNC Act specifies that a review or audit must be undertaken in accordance with the auditing standards.
Visit the AUASB website to view any exposure drafts or consultation papers, or to participate in any consultation processes the Board might stage.
Australian Professional & Ethical Standards Board
The Accounting Professional & Ethical Standards Board (APESB) is an independent, national body that sets the code of ethics and professional standards with which accounting professionals who are members of CPA Australia, Chartered Accountants Australia and New Zealand or Institute of Public Accountants must comply.
Visit the APESB website to learn more about any proposed changes to standards, or to take part in any of the Board's consultation processes.