Changes to NFP Accounting Standards - What directors need to know
|Price (incl GST)|
- Expiry Date: 11 October 2019
- Duration: 60 minutes
All Australian directors need to be aware of the changes about to impact NFP financial reporting. The changes to NFP financial reporting will be the most significant changes to financial reporting this century and represent a fundamental challenge to NFPs in being able to prepare financial reports on time and in accordance with accounting standards. They will change the pattern of revenue recognition (for grants as well as revenue from customers) and bring most leases (including peppercorn leases) onto the balance sheet, which in turn will require significant changes to both processes and systems.
This webinar will outline the new requirements and cover what directors need to know and do from a governance perspective.
They will discuss:
- Director compliance
- Key features and impact of each standard
- What to ask whilst overseeing the implementation of the standards
- What you should be doing now
- The key questions you should be asking
A lack of planning could see organisations receiving qualified audit opinions, delays in lodging financial statements, loss of community trust, regulatory scrutiny and potentially the need to have more skilled resources in your finance area to name a few of the consequences. Join this webinar to ensure you, as a director, are well prepared to discharge your obligations in this important area.
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