Standard%20Business%20Reporting%20

1
Standard Business Reportingreducing the
regulatory reporting burden

• Geoff Miller
• General ManagerStandard Business Reporting
  Division
• Australian Charities and Not-for-Profit
  Commission Taskforce
• 2 November 2011

2
What is the problem?

• Current reporting requirements create a number of
  problems for not-for-profits
• Intensive administration workloads largely from
  gathering, analysing, assembling and reporting
  financial information
• Multitude of jurisdictions and funding bodies
  that require regulatory reporting
• Lack of clarity and consistency in the
  information requested across reporting agencies

3
Considerations

• What information is required?
• How well is this information defined and is it
  consistent?
• Where is this information held?
• How is it to be reported, and is it consistent
  with how other reporting to government is done?
• Future business needs / technology requirements
  for the sector
• Maintaining open communication channels between
  various agencies / funding bodies involved in the
  reform
• Competing priorities within agencies

4
How can SBR help?

• SBR offers a
• Single Reporting Language Taxonomy
• Harmonised multiple agency definitions and linked
  them to standards and legislation. Uses XBRL
  which is an open data standard for financial
  reporting but can use others
• Communication infrastructure Core Services
• Providing a single consistent channel for
  transacting with multiple agencies, from within
  existing commercial tools and products
• Standard message format and security protocols
• Standard set of services that support normal
  patters of interactions
• Single Authentication process and system AUSkey
• Replaces multiple business credentials with one
  for doing business with government

5
How can SBR help (cont)?

• SBR reporting taxonomies could be extended to
  suit the not-for-profit sector
• SBR already includes forms currently used by the
  sector (Business Activity Statements, TFN etc)
• Many developers already support the
  not-for-profit sector, and some offer free or
  discounted software
• Can offer simpler and more transparent reporting
  and audit trails in accordance with new reforms

6
Questions?