The Australian Accounting Standards Board (AASB) currently have a Discussion Paper open for consultation that proposes a stand-alone accounting standard for smaller non-government not-for-profit organisations, which includes charities.
The proposed changes are expected to simplify accounting, improve the comparability and quality of financial reporting, and reduce costs.
The AASB has provided a number of ways for you to have your say, including:
- completing the online survey at https://www.surveymonkey.com/r/AASBTIER3NFP;
- attending a planned virtual outreach session from October 2022 to March 2023. See registration details here;
- making a written submission via 'Open for comment documents'; or
- reaching out to the AASB directly at standard@aasb.gov.au.
You can learn more about the discussion paper, and the supporting documentation by visiting the AASB website.