Registered charity Street Swags has voluntarily agreed to take action to address concerns raised about its governance by the national charity regulator.

Street Swags Limited (ABN: 65 127 605 832) entered into the Voluntarily Undertaking with the Australian Charities and Not-for-profits Commission (ACNC) on 20 October 2016.

A Voluntary Undertaking is an agreement between the ACNC and a charity to implement a number of measures in order to comply with its obligations under the ACNC Act and Regulation.

Assistant Commissioner David Locke said a Voluntary Undertaking is appropriate where a charity has fully cooperated with the ACNC’s investigation and has made obvious attempts to comply with ACNC regulations.

“Where appropriate the ACNC works with charities to address concerns and to ensure charities understand and comply with their obligations,” Mr Locke said.

“Our investigation found a lack of financial controls and conflict of interest policies.

“Street Swags have fully cooperated with our investigation. By entering this Voluntary Undertaking, Street Swags have made a commitment to increased accountability and transparency within the charity.

“The ACNC will continue to monitor Street Swags activities closely. If the conditions of this Voluntary Undertaking are breached, the ACNC will take further action.

“The ACNC has a range of formal powers it can use, including warnings, directions, removing responsible persons, enforceable undertakings and revocation,” Mr Locke said.

Street Swags Director Paul Daly confirmed he and his board were working to address the concerns raised by the ACNC.

“The Board is acutely aware of its fiduciary responsibility to demonstrate good governance and stewardship,” Mr Daly said.

“It is also aware of its legal responsibility at the highest level to comply with regulatory authorities and welcomes the ACNC’s assistance in meeting its compliance requirements.”

You can find more information about how the ACNC regulates charities at acnc.gov.au/regulatoryapproach