The Queensland University of Technology (QUT) Standard Chart of Accounts (SCOA) has been formally approved by all Australian Governments for implementation by 1 July 2010.
The 19-20 April 2010 Council of Australian Governments (COAG) meeting in Canberra made the following decision:
"COAG also agreed to additional reforms for the not-for-profit sector, including an implementation plan and governance structure to develop a nationally consistent approach to fundraising regulation, and the adoption of a standard chart of accounts where possible by 1 July 2010. This will further reduce the regulatory burden and improve public confidence in the not-for-profit sector. " (page 14)
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