Reconciliation Errors in Board Reporting
Definition
Board reporting requires reconciled financials showing true and fair view; failures expose boards to diligence breaches and prevent debt solvency certification.
Key Findings
- Financial Impact: 20-40 hours/month manual reconciliation; potential ACNC non-compliance fines up to AUD 18,000 per breach
- Frequency: Monthly/Quarterly for BAS and annual ACNC reporting
- Root Cause: Manual processes failing to match bank statements, payroll liabilities, BAS/GST, and donor records
Why This Matters
The Pitch: Fundraising NFPs in Australia waste 20-40 hours/month on manual reconciliations. Automation of bank, payroll, and GST matching eliminates errors and insolvency risks.
Affected Stakeholders
CFOs, Board Directors, Finance Managers, Fundraising Directors
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
ACNC Financial Reporting Non-Compliance
Fraud Risk from Weak Reconciliations
Delayed Pledge Collections from Tracking Delays
Lost Donations from Inaccurate Goal Tracking
Poor Campaign Decisions from Inadequate Forecasting
Donor Churn from Poor Segmentation
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