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VIDEO LESSON · ETHICS AND GOVERNANCE · MODULE 4 · PART A.4

Financial reporting, audit and wider accountability

14 min · Free to watch

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About this video lesson

Connect directors’ financial-reporting duties with audit independence, then consider public-sector and charity accountability.

Study clarifications

Read these points alongside the original lecture or guide.

The charity overview is simplified: there are six ACNC Governance Standards, including Standard 6 on the National Redress Scheme, subject to applicable exemptions. The five-standard list is incomplete. ACNC: Governance Standards ↗
ACNC registration is voluntary, although it is required for Commonwealth charity tax concessions and some other benefits. Do not read the lesson as saying every charity must register. ACNC: registration policy ↗
The ACNC does not universally require an AGM. A registered charity must be accountable to members, and its governing document or other applicable law may require a meeting. The Corporations Act AGM requirement does not generally continue for an ACNC-registered company limited by guarantee. ACNC: annual general meetings ↗

Study files for this lecture

PDFFinancial reporting, audit and wider accountability — student companion

PNGWho answers for the financial report

PNGProtecting auditor independence

PNGAccountability beyond companies

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Sources for the examples

Historical examples illustrate the concepts in this lesson. They do not change the syllabus context.

Browse Module 4 files →