The National Standard Chart of Accounts (NSCOA), developed by ACPNS in 2002, provides standardised accounting guidelines for nonprofit organisations, governments and the public. Fast-forward fourteen years and NSCOA has radically streamlined administrative processes, slashed compliance costs and reduced red tape, saving the Australian nonprofit sector millions of dollars.
With the advent of a national charity regulator, the Australian Charities and Not-for-profits Commission (ACNC), ACPNS gifted NSCOA to the Commission in 2013.
ACPNS Advisory Board Chair and Executive in Residence, Dr Glenn Poole recently travelled to Canberra to meet with ACNC representatives to assist in the establishment of a NSCOA Advisory Body, agree the terms of reference for the group and recommend the undertaking of an environmental scan of government and sector entities to reveal how many nonprofits are using NSCOA and if they are choosing not to, why.
ACNC representatives will produce a draft survey tool for circulation and a list of stakeholders who are to be included in the scan. In addition to sector and government agencies this will include professional bodies, accounting software developers and other advisors to the sector. The reference group will then meet regularly to monitor the success of the environmental scan in uncovering the sector’s willingness and capability in the use of NSCOA.
