Australian Aviation Psychology Association

"Expanding our members' contribution to the safety and efficiency of the aviation industry"

AAvPA accounts audit

Date: 21 December 2015

Hi AAvPA members,

During the recent AAvPA AGM, I, as treasurer, was given an action item to look into getting the AAvPA finances audited. I sought and received the following advice from an auditor:

"According to the Victoria State Government Website the entity (AAvPA) will be classified as a Tier 1 due to its total revenue being under $250,000: www.consumer.vic.gov.au/clubs-and-not-for-profits/incorporated-associations/running-an-incorporated-association/annual-statement/financial-statements-and-auditing.

Tier 1 entities do not need an external review or audit unless the association's rules require it, majority of the members vote so at a general meeting, or the Registrar of Incorporated associations requires it. That is with turnover <$250,000 you can prepare your own accounts and lodge them with Consumer Affairs Victoria."

Seeing as our annual turnover is less than $250k and our rules do not require we have an audit, I'm proposing that we don't have one (mainly because it will cost AAvPA quite a bit of money to get auditors to do it). What we do need to do though, & this will help maintain our financial clarity for our members, is lodge an annual statement with Consumer Affairs Victoria which includes the following:

• Income statement;
• Balance sheet;
• Cash flow statement; and
• Notes to the financial statements

I am now discussing with our book keeper about getting this together for lodgement with CA Victoria and I will ensure that a copy of the statement gets lodged on the website.

Mal Christie AAvPA Treasurer

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