Our year in review

As the team and I review 2025, one thing is clear: compliance and accurate accounting have never been more crucial for Australian charities and not for profit (NFP) organisations. With over 56,000 registered charities and NFPs across the country contributing to social and economic development, each must be governed efficiently, particularly in terms of financial management. This year has underscored that keeping accurate financial records and meeting compliance obligations isn’t just about ticking boxes; it’s about upholding the trust of donors, regulators, and the communities they serve.

Regulatory requirements in the charity and NFP sector are intense and highly scrutinised. The Australian Charities and not for profits Commission (ACNC) mandates that charities maintain accurate, complete financial records and prepare financial statements that comply with accounting standards. These standards exist for good reason: compliance ensures a charity or NFP operates transparently and ethically, providing stakeholders with confidence through truthful financial information.

The ACNC can even take enforcement action or revoke a charity’s registration if standards are not met, and staying on top of these obligations is crucial for several reasons. We work closely with our clients throughout the year to keep their accounts in order and audit-ready. We help establish strong internal controls so that every financial transaction is properly authorised, recorded, and reported. Financial oversight is an ongoing responsibility, and regular qualified management is a non-negotiable in modern practice.

This year, issues such as cybersecurity, banking name matching, and fraud were common discussion points, and our July article, “The risk of fraud” in NFP organisations, proved to be one of the most-read publications of the year. Created by Account Manager Kathy Tung, it covered what fraud is, understanding the perfect storm of fraud, and how to mitigate the risks associated with it. If you didn’t get a chance to read it, please find the time for a quick browse.

Compliance and specialised accounting are ultimately about enabling charities and NFPs to do what they do best. We are proud to support many incredible organisations, and this year we’ve witnessed our clients achieve inspiring outcomes. Here are a few highlights of the work being done by Accounting For Good’s clients in 2025:

Parkinson’s NSW: A leading for-purpose organisation striving to improve the lives of people with Parkinson’s, their families and carers. We helped Parkinson’s NSW modernise and overhaul its financial systems, creating a strong foundation for continued growth and ensuring they remain compliant while delivering vital counselling and support services.

Rainbow Lodge: This NFP program operates a halfway house supporting men exiting custody who are at high risk of reoffending and homelessness. When Rainbow Lodge engaged AFG, we guided them through a transition from paper-based bookkeeping to digital systems. This shift alleviated many financial pain points and freed up the team to spend more time on what matters, helping clients rebuild their lives. As we like to say, helping organisations like Rainbow Lodge get their accounts in order ultimately frees up their staff to do what they do best, provide much-needed support in the community.

The Blackbird Foundation is doing incredible work with young people. By investing in talented young people, they help their mission-“Creativity is at the heart of what it means to be human” endure, progress, and become a movement rather than a slogan. “Running the foundation is more than a passion, but I’ve never been deeply immersed in the numbers. The team at Accounting For Good fills the gap. Their advice is invaluable, and their knowledge of governance, the regulatory frameworks, and most importantly, the financial strategy they impart, ensures I can keep the balls in the air.” Joel Connelly – Creative Director

RuffTrack: Transforming young lives one paw at a time. Many young people’s lives are full of chaos. Home can be a negative space, and school is not working for them. They feel cut off from opportunities that should be available to them, regardless of their socio-economic situation or home environment. The road to trouble is wide and free from obstacles. Youth Officer, Senior Constable Belinda Flynn, at Hawkesbury Police Area Command, recognised the value of helping young, vulnerable people find the good in themselves and their community and established RUFF TRACK. Accounting For Good ensures RUFF TRACK is financially sustainable and has quality financial governance. Without it, the grants dry up, and donors drop off. While the amazing people working in this sector are dedicated to their mission, we are committed to helping ensure their mission can continue.

We wish these and all our clients continued success as they plan and prepare for 2026.

At Accounting For Good, we work with NFP organisations with a turnover of $1M or more.

Contact us if your organisation needs expert financial guidance. Let us handle your accounting needs so you can focus on what matters most: serving your community and driving positive change.