14 February 2019
The Registered Organisations Commission (ROC) is reminding registered organisations of the obligation to lodge their annual returns on or before 31 March 2019.
The ROC has recently updated its online educational materials to assist organisations, and has updated the annual returns checklists to reflect the additional procedures to be undertaken by the ROC this year.
The checklists provide guidance for organisations to assist with the preparation of their annual return:
Annual return checklist for organisations with branches
Annual return checklist for organisations with no branches
“These latest checklists complement our extensive suite of web-based information such as model financial statements, guidance notes, fact sheets and templates to help streamline and assist with high levels of voluntary compliance,” said Registered Organisations Commissioner Mr Mark Bielecki.
Following the lodgement of the annual return, in addition to the assessment of the information in accordance with the RO Act, the ROC will consult with organisations to validate a list of officers who exercise financial duties, and request additional information about their completion of approved financial training.
After consultation with organisations, the ROC will undertake an audit of compliance with section 293K of the RO Act, namely the obligation for officers with financial duties to undertake approved financial training within six months of taking office.
"The requirement for officers to undertake financial training is consistent with principles of good governance, as it is necessary for anyone who is involved in the financial management of organisations and branches to fully understand their duties,” said Mr Bielecki.
For tailored advice, you can contact the ROC via email email@example.com or phone 1300 341 665.
Greg Russo - (03) 9603 0767 or firstname.lastname@example.org