Audited Financial Acquittal

An audited financial acquittal report is prepared by someone independent of the Organisation. It includes an income and expenditure statement for the grant audited by a:

  • Registered Company Auditor under the Corporations Act 2001 (Cth) or
  • member of CPA Australia or
  • member of the Institute of Public Accountants in Australia or
  • member of the Institute of Chartered Accountants in Australia.

There is no specific format for an audited financial acquittal. However, it must:

  • be accompanied by an audit opinion
  • adhere to the applicable Australian Accounting Standards and be based on proper accounts and records
  • verify that the funding has been spent on the activity as per the Agreement, Schedule and Terms and Conditions
  • pertain to Departmental funding only (an audited statement for your whole Organisation is not acceptable)
  • differentiate income and expenditure relating to each grant you are funded for
  • include any other expenditure detail required under the Grant Agreement and Grant Opportunity Guidelines.

There is no prescribed template for audited financial acquittals.

Please ensure you only acquit the departmental funds that have been paid and/or rolled over from the previous financial year. Please do not include other sources of income or expenditure unless specified in your grant agreement.

What should your Organisation do in preparation?

  • Check the financial acquittal requirements in your Grant Agreement Schedule (including the due date and financial reporting and audit requirements)
  • If applicable, talk to your auditor about the financial acquittal requirements under the Grant Agreement
  • Provide a copy of the Grant Agreement and this information to your auditor
  • Prepare a timetable to meet these reporting requirements and agree on this with your auditor

How do I submit the Audited Financial Acquittal?

NOTE: Organisations funded by the Department of Health & Aged Care can submit their audited financial acquittal by following the instructions in the acquittal reminder email. All other Organisations not funded by the Department of Health & Aged Care, please read on.

You can submit your audited financial acquittal by completing the online acquittal form and attaching your audit and audit opinion documents.

Links and instructions for the online acquittal form are emailed to you 30 days before the acquittal due date.

Organisations registered for the Grant Recipient Portal will be prompted to access your acquittal form directly from the portal links. If you need assistance accessing the Grant Recipient Portal, please visit the Grant Recipient Portal Access page.

Organisations not registered for the Grant Recipient Portal will be provided with a link and code to access the Financial Acquittal report. Please note that each acquittal has a unique link and access code. You cannot complete your acquittal using an old or alternate link and access code.

Please see the task card on how to complete the online form for further information.

If required, you can email your audited financial acquittal to:

Need advice?

Contact your Funding Arrangement Manager if you need assistance with your audited financial acquittal.