Standard Business Reporting “reducing the regulatory reporting burden” Geoff Miller General Manager Standard Business Reporting Division Australian Charities.

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Presentation transcript:

Standard Business Reporting “reducing the regulatory reporting burden” Geoff Miller General Manager Standard Business Reporting Division Australian Charities and Not-for-Profit Commission Taskforce 2 November 2011

What is the problem? Current reporting requirements create a number of problems for not-for-profits:  Intensive administration workloads largely from gathering, analysing, assembling and reporting financial information  Multitude of jurisdictions and funding bodies that require regulatory reporting  Lack of clarity and consistency in the information requested across reporting agencies

Considerations  What information is required?  How well is this information defined and is it consistent?  Where is this information held?  How is it to be reported, and is it consistent with how other reporting to government is done?  Future business needs / technology requirements for the sector  Maintaining open communication channels between various agencies / funding bodies involved in the reform  Competing priorities within agencies

How can SBR help? SBR offers a: 1.Single Reporting Language – Taxonomy  Harmonised multiple agency definitions and linked them to standards and legislation. Uses XBRL which is an open data standard for financial reporting – but can use others 2.Communication infrastructure – Core Services  Providing a single consistent channel for transacting with multiple agencies, from within existing commercial tools and products  Standard message format and security protocols  Standard set of services that support normal patters of interactions 3.Single Authentication process and system – AUSkey  Replaces multiple business credentials with one for doing business with government

How can SBR help (cont)? SBR reporting taxonomies could be extended to suit the not-for- profit sector SBR already includes forms currently used by the sector (Business Activity Statements, TFN etc) Many developers already support the not-for-profit sector, and some offer free or discounted software Can offer simpler and more transparent reporting and audit trails in accordance with new reforms

Questions?