Westpac and Chartered Accountants Australia and New Zealand have partnered to produce a guide to help assist with the financial literacy of Australia’s 700,000 not-for-profit organisations.
The Guide for Community Financial Officers is designed to help financial officers of not-for-profit organisations take on their roles with greater knowledge and confidence and to help Board members understand what is required of a Financial Officer.
The guide is available free of charge at Westpac’s Davidson Institute.
Westpac National Manager, Working Capital and Industry Specialisation, Jacqui Logan-Powell, said that with many Australians belonging to a community group, the financial health of this sector is vitally important.
“Westpac is proud to support this guide which is part of our ongoing work to ensure community organisations have ready access to the information they need to operate effectively in a complex and changing financial environment,” Logan-Powell said.
“Westpac has been working with not-for-profit and local community organisations of all sizes for years and we understand their diverse opportunities and needs. Our collaboration with Chartered Accountants Australia and New Zealand means this Guide has a lot to offer community financial officers as they fulfill their vital role.”
Chartered Accountants Chief Executive Lee White said this guide will help organisations go from strength to strength.
“Financial officers bring a great deal of enthusiasm to their role and ensure that their organisations are in a strong financial position to continue serving their communities,” White said.
“This guide not only aims to help Financial Officers with all levels of experience to achieve their objectives for their community groups and organisations, but to ensure that when faced with challenges, they are equipped to tackle them.
“Our collaboration with Westpac comes from our mutual understanding of the benefits of community groups, but also the financial capacity and potential they hold. The contribution of individuals and community groups and organisations embrace the Australian spirit of pitching in to help out – it is their willingness that helps our nation prosper.”