Annual audit requirements for
Participants contributing cash or in-kind
Our projects are required to be audited annually to verify that cash and in-kind expenditure reported in the quarterly reports submitted to the CRCNA throughout the year is correct. We collate this information into an Annual Report for our external stakeholders and our funding partner, the Commonwealth Government.
The Annual Report is comprised of two parts:
A narrative component which requires Project Leads to provide an overview of the project’s key achievements, communication and engagement activities, publications, education and training events, collaborations and any changes to staff.
This part of the Annual Report is due 31 August of each year - you will be notified formally by the CRCNA.
Audited financial statements for project expenditure over the financial year. Your organisation type will determine whether you are required to have an internal or external audit, while the type and level of co-contribution will determine whether you need to complete a Statutory Declaration.
This part of the Annual Report is due 31 October of each year - you will be notified formally by the CRCNA. Audited financial statements will need to be uploaded into the Participant Portal along with any other supporting materials.
Project participants who have received and spent MORE than $10,000 in the financial year
- For State and Territory governments or Tertiary Institutions, internally audited financial statements are required.
Internally Audited Financial Statement is an audited financial statement prepared by employee(s) of the Research Provider who is a Qualified Accountant in accordance with Australian Accounting Standards and which must include a definitive statement as to whether the financial information for the Project represents the financial transactions fairly and is based on proper accounts and records together with supporting documentation.
- For all other participants, externally audited financial statements are required.
Externally Audited Financial Statement is an audited financial statement prepared by an external Qualified Accountant on behalf of the Research Provider in accordance with Australian Accounting Standards and which must include a definitive statement as to whether the financial information for the Project represents the financial transactions fairly and is based on proper accounts and records together with supporting documentation.
A template showing the format required by CRCNA for internal and external audited financial statements is available for download below.
Download: AUDIT TEMPLATE
Project participants who have received and spent LESS than $10,000 in the financial year
If total project cash disbursements you have received from the CRCNA in the financial year is less than $10,000, you’ll need to complete a Statutory Declaration – Cash form.
Downloads:
Project participants who have only contributed in-kind in the financial year
- Project Leads are required to sign a Statutory Declaration on behalf of the project participants who are contributing in-kind towards the project.
- Only one Statutory Declaration is required per project.
- If your project has multiple in-kind participants, one only Statutory Declaration is required.
- If you are a project lead for multiple projects, then you must complete separate forms for each project.
Downloads: