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Reporting guidelines for the purposes of section 253 - fifth edition

I, Mark Bielecki, the Registered Organisations Commissioner, hereby issue under subsection 255(1) of the Fair Work (Registered Organisations) Act 2009 reporting guidelines for the purpose of section 253 of that Act, entitled Reporting guidelines for the purposes of section 253 - fifth edition.

Date 4 May 2018

Mark Bielecki
Registered Organisations Commissioner

Publication history:                   Relevant legislation   Fair Work (Registered Organisations) Act 2009
                                                              Fair Work (Registered Organisations) Regulations 2009
First edition:        20 June 2003
Second edition:       12 October 2004
Third edition:        26 June 2013
Fourth edition:       13 June 2014
Fifth edition:        4 May 2018

Application
     1. These reporting guidelines are made under section 255 of the Fair Work (Registered Organisations) Act 2009 (the RO Act).
     2. These reporting guidelines apply to all general purpose financial reports (GPFR), including a concise financial report, of a reporting unit as defined in section 242 of the RO Act, except where the Registered Organisations Commissioner (the Commissioner) has issued a certificate under subsection 270(1) to the reporting unit for that financial year. Separate reporting guidelines made under section 255 of the RO Act for purposes of section 270 apply to a GPFR of a reporting unit in relation to the financial year for which a certificate has been issued under subsection 270(1).
     3. In the event of a conflict between a requirement of these reporting guidelines and a requirement of an Australian Accounting Standard, the requirement of the Standard prevails unless there has been a determination under section 241 of the RO Act that the Standard or the relevant part of the Standard does not apply in relation to an organisation or a class of organisation.

Operative date
4.              These reporting guidelines apply to each financial year of a reporting unit that begins on or after 1 July 2017.

Purpose of reporting guidelines
5.              These reporting guidelines apply for the purposes of section 253 of the RO Act.
6.              Under subsection 253(1) of the RO Act a reporting unit is required to have a GPFR prepared. The GPFR must be prepared in accordance with the Australian Accounting Standards. These reporting guidelines prescribe disclosure requirements in addition to those prescribed by Australian Accounting Standards having in mind the nature of organisations registered under the RO Act.
7.              The disclosure requirements prescribed by these reporting guidelines are directed towards providing members of a reporting unit with information to enable them to gauge the performance of the committee of management and other holders of office in relation to the financial management of the reporting unit. In addition, the reporting guidelines seek to improve the quality of information available to users of the GPFR about the reporting unit's