Incorporated Associations
Victoria (other than charities)

Tier 1

Total revenue less than $250,000 (or if declared by Registrar)
No review or audit of financial statements required unless voted by majority members or directed by Registrar.

Tier 2

Total revenue greater than $250,000 and less than $1m (or if declared by Registrar)
Financial statements must be reviewed unless voted by majority members or directed by Registrar to be audited.

Tier 3

Total revenue greater than $1m (or if declared by Registrar)
Financial statements must be audited.

Other states and territories

Currently each state and territory has its own legislation and regulator. The audit requirements also differ from state to state. For associations incorporated outside of Victoria, the requirements can be found on each individual regulators website.

Saward Dawson can provide assistance determining the requirements for your organisation.

Audit Guide - Do we need an audit?
 

Jeff Tulk

New to Saward Dawson? Book a free 30 minute consultation

We happily spend 30 minutes without charge with new contacts to explore relevant issues and outline how we can assist. Let us know your area of interest and we will arrange a specialist to meet with you.

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