21Annual returns must be accompanied by certain documents

21 Annual returns must be accompanied by certain documents

21 Annual returns must be accompanied by certain documents

(1) For the purposes of the Act, section 23(1)(d), the following documents must accompany an annual return—

(a) an annual financial statement,

(b) an auditor’s report prepared for the purposes of the Act, section 24,

(c) a statement of compliance in the form approved under the Act, section 24B.

(2) The annual financial statement must—

(a) be prepared in accordance with the Australian Accounting Standards, and

(b) consist of the following—

(i) an income statement that summarises the income and expenditure of each fundraising appeal conducted in a financial year,

(ii) a balance sheet that summarises all assets and liabilities resulting from the conduct of fundraising appeals at the end of the financial year,

(iii) a statement of cash flows,

(iv) if more than $100,000 gross is received from a fundraising appeal conducted in a financial year—notes to the financial statement.

(3) If the authority holder is an organisation, the annual financial statement must also contain a declaration from the organisation that contains the following statements—

(a) the organisation is able to pay all of the organisation’s debts as and when the debts become due and payable,

(b) the financial statement satisfies the requirements of the Act and this Regulation,

(c) the contents of the financial statement are true and fair,

(d) the organisation has appropriate and effective internal controls.

Note—

If an organisation is a company incorporated under the Corporations Act 2001 of the Commonwealth, the declaration referred to in subsection (3) must be provided in addition to the directors’ declaration referred to in that Act, section 295.

(4) If the authority holder is an organisation and receives more than $100,000 gross in a financial year from a fundraising appeal conducted by the organisation in the financial year, the income statement and balance sheet referred to in subsection (2)(b) must also contain the following information—