NFPs Awarded for Best Practice Reporting

World Vision has been declared the winner of the third annual Australian PwC Transparency Awards, with judges praising entrants for the continuing improvement in the quality and transparency of reporting.

International accounting firm PricewaterhouseCoopers, together with the Institute for Chartered Accountants in Australia and the Centre for Social Impact (CSI) announced World Vision as award winner, and Mission Australia as runner up, at a presentation evening in Sydney last week.

World Vision was chosen from 39 entrants in this years Awards. Gina Anderson, CEO Philanthropy Australia and spokesperson for the judging panel says World Vision’s very open, clear reporting, especially considering the difficulty of explaining such a complex organisation made them a worthy recipient of this year’s Award.

Anderson says World Vision has made great strides with its evaluation report, disclosure of remuneration, the use of narrative and discussion of impact and learning in its reporting process.

Commenting on the Awards runner-up, Anderson says Mission Australia’s Annual Review has improved with each year of entry and it is noticeably improved from two years ago.

The Awards recognise and encourage the improvement of quality and transparency of reporting within the Not for Profit sector. Organisations eligible for the Awards generated in excess of $10 million during the last financial year.

Rick Millen, PwC Corporate Responsibility Partner says it is encouraging to see the continuing improvement in the quality and transparency of the reporting of this year’s PwC Transparency Award entrants.

Millen says this year the nature of organisations being attracted to the Awards broadening, with the inclusion of organisations with very different operating models.

Graham Meyer, CEO of the Institute for Chartered Accountants says the Awards are helping to raise the bar in the quality of transparent reporting across the NFP sector. He says this is important as there is not yet a single reporting regime in place for the NFP sector to compare minimum reporting requirements.

The winners were chosen by a four person Jury from a shortlist of five organisations. Winner and runner-up receive $20,000 and $10,000 respectively to spend on training and development.

For more information, visit www.pwc.com.au/foundation/transparency-awards.htm