Reporting requirements for tier 2 and 3 associations

Tier 2 and tier 3 associations must prepare a financial report containing financial statements and notes that comply with the accounting standards.

Qualifications of reviewers and auditors

The regulations set out the qualifications for reviewers and auditors. 

A review must be conducted by an independent person who is:

• a member of Chartered Accountants Australia and New Zealand (CA or FCA), CPA Australia (CPA or FCPA) or Institute of Public Accountants (MIPA or FIPA); or
• a registered company auditor; or
• approved by the Commissioner.

An audit must be conducted by an independent person who is:

• a member of Chartered Accountants Australia and New Zealand (CA or FCA) that holds a current Certificate of Public Practice; or
• a member of CPA Australia (CPA or FCPA) or Institute of Public Accountants (MIPA or FIPA) that holds a Public Practice Certificate; or
• a registered company auditor; or
• approved by the Commissioner.

More information

Incorporated associations who fall into Tier 2 and 3 and their auditors and reviewers have specific responsibilities under the Associations Incorporation Act 2015. More information about these responsibilities is available from:

1. Working with reviewers and auditors for tier 2 and 3 associations
2. Information for reviewers and auditors for tier 2 and 3 associations