Document ID: chunk:federal_register_of_legislation:F2023C00190:reg:2
Version: federal_register_of_legislation:F2023C00190
Segment Type: reg
Provision Reference: reg 2
Character Range: 22083–24242

2  Not-for-profit private sector entities
   Charities registered with the Australian Charities and Not-for-profits Commission (ACNC)
   -          medium and large charities preparing special purpose financial statements and required to comply with the ACNC reporting requirements for such financial statements                                                                                                                                                                                                   In scope, must comply with AASB 1054
   -          small charities                                                                                                                                                                                                                                                                                                                                                       Not in scope
   -          medium and large charities preparing special purpose financial statements and not required to comply with the ACNC reporting requirements for such financial statements                                                                                                                                                                                               Not in scope
   Not-for-profit entities not registered with ACNC
   -          lodging special purpose financial statements with the Australian Securities and Investments Commission (ASIC) under the Corporations Act 2001 (eg companies limited by guarantee)                                                                                                                                                                                     In scope, must comply with AASB 1054
   -          required by Federal or State/Territory legislation to prepare financial statements in accordance with Australian Accounting Standards or accounting standards (eg incorporated associations, co-operatives and charitable fundraising organisations), that are preparing special purpose financial statements and not specifically required to comply with AASB 1054  Not in scope