AuSAE - Charities Urged to Comment on Proposed Amendments

Charities Urged to Comment on Proposed Amendments

17 Sep 2015 3:49 PM | Kerrie Green

BDO is urging charities and their advisers to make submissions on proposed amendments to the new not-for-profit accounting standards, or face the high costs of recording the value of donated goods in financial reports.

Charities are in the process of moving to a new suite of accounting standards. As a result of this move, charities with expenditure in excess of $2 million per annum will be required to record donated goods at fair value on the date they are received.

“This requirement will be challenging and costly for charities, such as opportunity shops, that receive high-volumes of low-value donated goods, but meeting the requirements will have no practical benefits for the charities involved,” says BDO Head of Not for Profit Bernard Lamusse.

“Furthermore, to be fully compliant, these charities will also have to quantify stock on hand at year-end, adding considerable cost and inconvenience to the charity.”

In response to the concerns of charities that will be impacted by this requirement, the New Zealand Accounting Standards Board (NZASB) has released an Exposure Draft for public comment, proposing amendments that, in certain circumstances, would allow charities not to recognise donated goods at the date of acquisition.

The NZASB is seeking comments on the Exposure Draft by 30 October 2015.

“BDO will be making a submission in support of the NZASB’s decision to reduce compliance costs for charities in relation to this requirement,” says Mr Lamusse.

“It’s very important that the NZASB also hears from not-for-profit entities that would benefit from the removal of this requirement. We encourage such entities to make submissions and will readily provide guidance if required."

Information on the Exposure Draft is available here.

This media release was directly sourced from Sccop NZ here.

Strengthening Trans-Tasman Connections: AuSAE and Tourism New Zealand Business Events Renew Partnership

Association professionals across Australia and New Zealand have even more reason to explore trans-Tasman opportunities. AuSAE is proud to announce the renewal of its longstanding partnership with Tourism New Zealand Business Events, celebrating 11 years of collaboration.

For over a decade, this partnership has strengthened connections between the two countries, helping associations expand networks, share knowledge, and deliver world-class events.

Toni Brearley, CAE, Chief Executive Officer at AuSAE, said:

“Our partnership with Tourism New Zealand Business Events has opened doors for association leaders to plan unforgettable events and connect with peers across the Tasman. Together, we’ve created opportunities, shared knowledge, and elevated the experiences of our members and their delegates. This partnership reinforces our commitment to fostering strong trans-Tasman collaborations, helping associations innovate, grow, and deliver outstanding value to their members.”

Helen Bambry, Business Events Manager at Tourism New Zealand, added:

“Partnering with AuSAE means we can directly support association professionals in bringing their next international business event to New Zealand – offering assistance, funding, and support to ensure exceptional experiences for both organisers and delegates.”

Watch the Tourism New Zealand Business Events video

What this partnership means for you

For Australian associations:

Receive expert guidance and support to bring conferences or member events to New Zealand.
Access funding assistance through Tourism New Zealand Business Events.
Expand your network and build partnerships with New Zealand peers and industry leaders.
Deliver international experiences for members and delegates just across the Tasman.

For New Zealand associations:

Strengthen professional connections with Australian association leaders through AuSAE’s network.
Share expertise and collaborate on professional development, governance, and member engagement initiatives, and more.
Gain visibility within the broader association community in Australia and New Zealand.
Access opportunities to host international association events and delegates in New Zealand, boosting local engagement and knowledge exchange.

About AuSAE:

The home for association professionals, the Australasian Society of Association Executives (AuSAE) is the leading - and only not-for-profit, member-based - organisation supporting association professionals in Australia and New Zealand. For 70 years, AuSAE has been a trusted partner for those working in associations, providing professional development, support, and networking to help association leaders achieve organisational goals, advance their careers, and strengthen the wider sector.

About Tourism New Zealand Business Events:

Tourism New Zealand Business Events provides expert guidance, funding, and support to attract conferences, incentives and corporate events to New Zealand.

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For more information about AuSAE, please contact Toni Brearley, CAE:
Toni Brearley, CAE
Chief Executive Officer, AuSAE
E: toni@ausae.org.au
T: + 61 458 000 155

To apply for funding and support to host a conference in New Zealand contact Helen Bambry:
Helen Bambry
Business Events Manager, Tourism New Zealand
E: Helen.Bambry@tnz.govt.nz
T: +61 415 933 325

The Australasian Society of Association Executives

Contact us:

Email: info@ausae.org.au
Phone: 1300 764 576 (within Australia)
Phone: +61 7 3268 7955 (outside Australia)
Address: Unit 6, 26 Navigator Place, Hendra QLD 4011, Australia