Celebrating honest reporting in the Not-for-Profit sector
19 April 2012
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.
Background on entries and the Award process
Of the 45 NFPs that participated in this year's Awards:- 35 per cent were new participants
- 9 per cent entered for the second time
- 18 per cent entered for the third time
- 20 per cent entered for the fourth time
- 18 per cent entered for the fifth time.
An independent jury determined the winners.
Since the awards began in 2007, 209 charities have entered with approximately 80 per cent re-entering the awards. This year, 18 per cent entered the awards for the fifth time.
About PwC
PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See pwc.com for more information. 2012 PwC. All rights reserved.The people of PwC are committed to playing a leading role in achieving a sustainable future: we hold ourselves accountable for our actions and promote responsible business practices; support the growth and development of our people and communities; and seek to minimise our impact on the environment. We approach corporate responsibility from four perspectives, which we call the 'four quadrants' - Community, Environment, People and Marketplace. By considering the wider impacts of our decisions in these four quadrants, we are able to develop a comprehensive strategy that embeds corporate responsibility into all our business planning and processes. The PwC Transparency Awards are an important demonstration of our commitment to transparency and corporate responsibility.
About the Institute of Chartered Accountants in Australia
The Institute is the professional body for Chartered Accountants in Australia and members operating throughout the world.Representing more than 70,000 professionals and business leaders, the Institute has a pivotal role in upholding financial integrity in society. Members strive to uphold the profession‘s commitment to ethics and quality in everything they do, alongside an unwavering dedication to act in the public interest.
Chartered Accountants hold diverse positions across the business community, as well as in professional services, government, not-for-profit, education and academia. The leadership and business acumen of members underpin the Institute‘s deep knowledge base in a broad range of policy areas impacting the Australian economy and domestic and international capital markets.
The Institute of Chartered Accountants in Australia was established by Royal Charter in 1928 and today represents more than 58,000 members and around 12,500 talented graduates working and undertaking the Chartered Accountants Program.
The Institute is a founding member of the Global Accounting Alliance (GAA), which is an international coalition of accounting bodies and an 800,000-strong network of professionals and leaders worldwide.
Website:www.charteredaccountants.com.au
About the Centre for Social Impact
The Centre for Social Impact (CSI) brings together the business, government, philanthropic and social (not-for-profit) sectors, in a collaborative effort to build community capacity and facilitate social innovation. Our mission is to create beneficial social impact in Australia through teaching, research, measurement and promotion of public debate.We aim to deliver our mission in five key ways:
- By promoting public debate and influencing public policy through our action based research
- By building collaborations and partnerships and developing strong national and international affiliations
- Through the creation and transfer of knowledge, promoting best practice and keeping participants abreast of trends and developments in the social sector
- Through our teaching program which is aimed at supporting the next generation of leaders, providing professional development, mentoring and networking opportunities
- Through the demonstration and measurement of social impact.
Website: www.csi.edu.au
Twitter: @CSIsocialimpact
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