As the end of financial year rolls into boardrooms, many organisations - particularly not-for-profits, associations, and governed entities - begin preparing for annual audits, AGMs, and board reporting.

Whether you're a board member, executive, or internal finance lead, now is the time to get ahead of your obligations, sharpen your governance practices, and ensure your organisation is fully compliant and ready for review.



Key Focus Areas for This Season

1. Audit Preparation: Don’t Leave It Too Late

An audit-ready organisation is one that:

• Has finalised reconciliations and journals
  
• Can quickly provide documentation to support financial activity
  
• Understands its funding or grant reporting obligations
  
  

Start early. Engage your auditor, prepare working papers, and make sure your internal accounts have been reviewed for errors or anomalies.

2. Board Governance: More Than a Tick Box

Strong governance adds value. This is a great time to:

• Review your board’s skills matrix
  
• Confirm that compliance registers are up to date
  
• Revisit strategic risks and evaluate performance frameworks
  
  

Even small organisations benefit from regular governance refreshers.

3. AGMs and Annual Reporting: Deadlines Are Looming

Most organisations must hold their AGM within 5 months of the end of their financial year. That means:

• Finalising financial reports
  
• Drafting your annual report
  
• Preparing messaging for stakeholders and members
  
  

This is your chance to showcase achievements and reflect on progress.

Practical Tips to Stay on Track

• Set a calendar reminder for key dates like ASIC/ACNC lodgements
  
  
• Pre-schedule meetings to approve reports
  
  
• Use templates for board minutes, resolutions, and notices
  
  
• Communicate with your accountant and auditor early — not when the deadline is a week away

Beyond Compliance: A Governance Opportunity

Annual cycles shouldn’t feel like a burden. Instead, they’re a chance to:

• Build stakeholder trust
  
• Demonstrate transparency
  
• Align board and management on key issues
  
  

Whether you’re a community organisation or a large NFP, good governance = good business.

To find out more about how we can help you, please contact one of our team at admin@wrightsca.com.au.

**Important notice:** This article provides information rather than financial advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation, or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information.