Australian charities are burdened with overly complex and inconsistent financial reporting rules according to the Australian Accounting Standards Board (AASB). A board report says that this sector, which earns AUD134 billion annually, are covered by 18 sets of regulations and 10 regulators at federal and state level. The AASB said: “Very little of that regulation is consistent and much of it involves different reporting thresholds and requirements.”


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