Victoria (other than charities)
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.
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.
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?