What does a Tier 2 club ($500,000 up to under $3 million) have to prepare?
Rule- Western Australia
- Consumer Protection WA
- Incorporated associations
- Financial reporting
- Tiers 1-3
- 2026
- Treasurers
A Tier 2 association prepares an annual financial report that complies with Australian Accounting Standards. It contains:
- financial statements: an income and expense statement, a balance sheet, a cash flow statement and a statement of changes in equity
- notes, including the disclosures needed for a true and fair view
- the management committee declaration
Committee declaration: passed by resolution of the committee. It states whether there are reasonable grounds to believe the association can pay its debts when due, and whether the statements comply with the Act. It must state the date and be signed by at least two authorised committee members.
The report must then be reviewed by an independent reviewer every year, and the review report presented at the AGM.
Sources: Consumer Protection WA, Tiered financial reporting (https://consumerprotection.wa.gov.au/inc-guide-incorporated-associations-western-australia/tiered-financial-reporting) and Accounts and auditing (https://www.consumerprotection.wa.gov.au/book/export/html/4934).
Added 24 Oct 2026