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ARTICLE · 21 NOVEMBER 2007

Audit: Governance Of Public Funds

Moore Australia
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Now more than ever, private organisations relying on public funds, including tax exempted charities, are facing growing cost pressures from emerging regulations and greater corporate governance requirements. This means they must now have a greater focus on their prudential, risk management and compliance obligations.

AustraliaAccounting and Audit
Joe Shannon
Joe Shannon
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Now more than ever, private organisations relying on public funds, including tax exempted charities, are facing growing cost pressures from emerging regulations and greater corporate governance requirements. This means they must now have a greater focus on their prudential, risk management and compliance obligations.

This trend is seen most clearly in organisations providing services where there is a strong public interest. The result has been increasing costs of regulatory compliance for privately owned health, aged care and education service entities whether they are operating as not-for-profit or for private gain.

How Does This Compare To Other Countries?

In comparable foreign jurisdictions this trend has included the creation of Government bodies specifically focused on the regulation of charities including those operating in the above sectors. The standards of governance and financial reporting requirements set by these regulatory bodies mean that the obligations of such

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GGI | Global Alliance
GGI | Global Alliance