Celebrating honest reporting in the not-for-profit sector

Thursday, 19 April 2012  Features

The Cancer Council NSW and Opportunity International were named as winners of the fifth annual PwC Transparency Awards last night, in the $30 million or more and the $5 million-to-$30 million categories, respectively.

A collaboration among PwC Australia, the Institute of Chartered Accountants in Australia (the Institute) and the Centre for Social Impact (CSI), the Awards recognise and encourage improvement in the quality of reporting in the Australian not-for-profit sector. The PwC Transparency Awards demonstrate and recognise best practice, which is particularly relevant given sector-wide reform including the introduction of the Australian Charities and Not-for-profits Commission this year that will call for increased transparency in reporting.

The category of most improved charity was awarded to Lifeline Australia, and a newly introduced award for best first year entrant went to Bridge Housing Limited.

David Crosbie CEO at the Community Council for Australia, who presented one of the awards, said: "The winning organisations are those who clearly defined the function of their organisation, the impact they have had throughout the year, provided honest and balanced reporting and a clear business strategy. The jury was impressed with the way many organisations are tackling this challenge."

PwC Corporate Responsibility Partner, Mark Reading said: "The Transparency Awards play an important role in increasing public confidence in the not-for-profit (NFP) sector. These awards encourage NFPs to clearly articulate their impact on the community."

Lee White, CEO of the Institute said: "Having been involved with the PwC Transparency Awards for the past few years, the Institute continues with its commitment to helping the not-for-profit sector keep up-to-date with reporting standards and other regulation. As the sector embarks on a new era with the start of a dedicated regulator later this year, the Institute will continue to be a voice of advocacy and a source of advice."

"The PwC Transparency Awards has been a leading edge initiative for five years, making a demonstrable impact and lifting the standard of communication and transparency across the not-for-profit sector. Its success is evidenced by the addition of new categories this year," says Gina Anderson from the Centre for Social Impact. "The Award is a proactive initiative that NFP organisations welcome and will be increasingly relevant with the establishment of the ACNC this year."

Organisations' level of disclosure is assessed according to criteria including strategy, financial and operational performance, stakeholder reporting, governance, risk policies and sources of funding.