Australian Financial Services (AFS) licensees that are companies, registered schemes or disclosing entities can no longer prepare special purpose financial reports (SPFRs) to meet their AFSL reporting obligations from 1 July 2021. However, some licensees will be able to defer this requirement for 12 months. Deferral will be possible for those AFS licensees that prepared … Continued
Michael is a qualified Chartered Accountant, Registered Company Auditor and holder of a Certificate of Public Practice with the Institute of Chartered Accountants Australia and provides audit and assurance services to a range of clients including ASX listed companies, Not-For-Profit organisations, charities and privately held entities. With his strong understanding of accounting best practice and … Continued
Chris has over 20 years of experience providing audit and assurance services to a range of clients across a number of sectors, including listed investment companies, medium to large private businesses and Not-for-Profit clients. His professional manner and client focus has seen him become a highly valued advisor to his clients. Chris recognises that each … Continued
Richard’s proactive approach to client service allows him to build collaborative, long-term relationships to drive tangible outcomes. His clear and open communication together with his strong sense of integrity and work ethic ensures he is a trusted advisor. His commitment to understanding his clients’ objectives through open and clear communication helps to drive commercial outcomes. … Continued
Related party transactions are of interest as they have the potential to impact a responsible person’s ability to act in the best interests of the charity. In conjunction with the increased charity thresholds incorporated into the Australian Charities and Not-for-profits Commission Regulation 2013 (Regulations) on 13 November 2021, the Regulations also contain more disclosure requirements … Continued
Over the last twelve months we have seen many NFPs struggle with applying the revised income and revenue recognition accounting standards as part of their financial reporting processes. Further, we have seen the board members of these NFPs having difficulty in understanding how the resulting outcome of applying these standards is logical and consistent with the underlying objectives and mission of the NFPs.
As we enter into the financial year commencing 1 July 2021, we remind you that the removal of special purpose financial statements for certain for-profit entities is now upon us.
Andrew joined Pitcher Partners in 2020 following 13 years with Deloitte. The opportunity to grow professionally alongside established clients whilst actively building new business relationships drew Andrew to Pitcher Partners. He became a partner of the Brisbane firm in 2021. As a trusted advisor, Andrew works proactively with organisations to ensure their compliance obligations are … Continued
The IFRS Interpretations Committee recently published its agenda decision on the appropriate accounting treatment of configuration and customisation costs incurred by a customer in cloud computing arrangements.