What does a Tier 1 club (under $500,000) have to prepare?
Rule- Western Australia
- Consumer Protection WA
- Incorporated associations
- Financial reporting
- Tiers 1-3
- 2026
- Treasurers
A Tier 1 association prepares annual financial statements to present to members at the AGM, using either the cash or accrual method:
- Cash basis: a statement of all monies received and paid, a reconciled statement of all bank balances, and a statement of total assets and liabilities at year end.
- Accrual basis: an income and expenditure statement and a balance sheet.
A review or audit is not needed unless members resolve to have one or the Commissioner directs it.
Source: Consumer Protection WA, Tiered financial reporting (https://consumerprotection.wa.gov.au/inc-guide-incorporated-associations-western-australia/tiered-financial-reporting).
Added 24 Oct 2026