Friday, 31 May 2013

Australia: CAMAC publishes Administration of Charitable Trusts report

The Corporations and Markets Advisory Committee has published its report Administration of charitable trusts: see here (pdf). A press release is available here. The report is concerned with charitable trusts managed by licensed trustee companies (LTCs) and recommends, amongst other things, that the Australian Charities and Not-for-profits Commission conduct, or coordinate, stewardship audits of a cross-section of charitable trusts administered by LTCs. The purpose of the audits would be to obtain a clearer picture of the administration of charitable trusts, including the extent to which each trustee has assumed its responsibilities and exercised its powers for the purpose of achieving the primary intent of the donor.

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