25 questions a not-for-profit Board member needs to ask about the finances

The Australian Charities and Not-for-profits Commission (ACNC) has released a new guide designed to assist Board and committee members in keeping their organisation's finances in order.

The guide stresses that every Board or committee member has responsibility in this area, not just the Treasurer, and that ignorance of the accounts is not an excuse.

“You’re obliged to know enough about finance to know what the financial statements are telling you, and to see where there are inconsistencies, errors or warning signs,” the guide states. 

“You’re obliged to ask questions if there are gaps. You’re obliged to handle the organisation’s money with as much care and attention as if it were your own, and everybody else will expect you to handle the money with as much dedication to duty as if it were theirs.”

Download the guide for information on 25 key considerations including legal information, understanding financials such as profit margins and fundraising, and the sort of questions board and committee members and directors should be asking.