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Why do our accounts have to be externally reviewed?

If your organisation’s annual operating costs were more than $500,000 for each of the previous two financial years, you must provide financial statements that have been externally reviewed for the most recent accounting period or financial year.

If your organisation’s annual operating costs were more than $1 million for each of the previous two financial years, you must provide financial statements that have been externally audited for the most recent accounting period or financial year.

Charities Services has more information about the requirements for financial reporting.