Financial reporting requirements

This page is for: 
Not for profit

COVID-19 coronavirus notice

To assist organisations impacted by COVID-19 coronavirus, licence holders whose annual financial statements are due for lodgement between 31 March 2020 and 30 August 2020 now have until 30 September 2020 to submit the required documents with Consumer Protection.

A licence holder must keep accurate records of its charitable collections activities. These collection records must include:

  • Accounts setting out the money and goods collected or received by the collector for a charitable purpose; and
  • Statements setting out the way the money and goods collected or received by the collector have been dealt with.

A financial report must be prepared each year that includes an income and expense (or profit and loss) statement and a balance sheet. 

Review and auditing requirements

The requirement to complete a review or audit of the financial report depends on the licence holder’s reporting category. 

These categories are determined by the licence holder’s annual revenue (the total amount of money received through its activities during a financial year):

  • Small - less than $500,000 in annual revenue
  • Medium - $500,000 or over but less than $3,000,000 in annual revenue
  • Large - $3,000,000 or over in annual revenue

The audit and review requirements for each category are as follows:

  • Small charities - are not required to complete a review or audit of the financial report.
  • Medium charities - may choose to complete either a review or an audit of their financial report.
  • Large charities - are required to have their financial reports audited. 

Qualifications of auditors

The audit or review of a medium or large charity’s financial report must be conducted by an independent person who is a:

  • registered company auditor;
  • member of Chartered Accountants Australia & New Zealand (CA, FCA);
  • member of CPA Australia (CPA or FCPA);
  • member of the Institute of Public Accountants (IPA); or
  • member of the Association of Taxation and Management Accountants (ATMA).

Reporting to Consumer Protection 

The following information is required to be lodged with Consumer Protection within six (6) months after the end of a licence holders financial year:

  • a completed annual financial return
  • A copy of the financial report (medium and large charities only).
  • A copy of the review or audit report (medium and large charities only).

The information can be lodged by email to

Exemptions for Australian Charities and Not-for-profits Commission registered charities  

Licence holders who are also registered charities with the Australian Charities and Not-for-profits Commission (ACNC) are not required to submit an annual financial return to Consumer Protection or provide copies of financial reports.  
To be eligible for this exemption registered charities must lodge their annual information statements (AIS) with the ACNC and enter their WA charitable collections licence number (fundraising licence number) in the AIS form.


Please note that failure to lodge the Annual Financial Return or meet the ACNC reporting requirements (if applicable) may result in a licence being revoked. 


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