CATSI Act Audit Services
J O’Connor Pty Ltd provides independent CATSI Act audit services for eligible Aboriginal and Torres Strait Islander corporations with consolidated gross operating income below $5 million, assisting boards and directors with ORIC reporting, governance and financial compliance obligations.
Understanding CATSI Act Audit Requirements
Corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) may be required to prepare audited financial reports depending on their size and consolidated gross operating income.
Under the CATSI reporting framework, many corporations with consolidated gross operating income between $100,000 and $5 million are required to prepare:
a financial report prepared in accordance with Australian Accounting Standards,
an independent audit report, and
annual reports lodged with the Office of the Registrar of Indigenous Corporations (ORIC).
CATSI corporations are generally required to lodge reports within six months of the end of the financial year, making timely financial reporting and audit completion an important governance responsibility for directors and boards.
An independent audit provides assurance to members, funding bodies, regulators and stakeholders that the financial report presents a true and fair view in accordance with the applicable financial reporting framework and Australian Auditing Standards.
CATSI Reporting Requirements
Aboriginal and Torres Strait Islander corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) have annual reporting obligations to the Office of the Registrar of Indigenous Corporations (ORIC).
All CATSI corporations are generally required to prepare and lodge a general report each financial year. Depending on the corporation’s consolidated gross operating income (CGOI), additional financial reporting and audit obligations may also apply.
For many corporations with consolidated gross operating income between $100,000 and $5 million, reporting obligations may include:
a general report,
a financial report prepared in accordance with Australian Accounting Standards,
an independent audit report, and
annual lodgement with ORIC.
Reports are generally required to be lodged within six months of the end of the financial year.
General Reports
The annual general report typically includes information about:
the corporation’s registered details and activities,
directors, members and contact details,
financial and employee information, and
declarations required under the CATSI reporting framework.
Corporations are also required to maintain an up-to-date register of members. This differs from the annual member list lodged with ORIC as part of the annual reporting process.
Financial Reports
Eligible corporations may also be required to prepare annual financial reports in accordance with Australian Accounting Standards.
Financial reports commonly include:
a statement of financial position,
statement of profit or loss and other comprehensive income,
statement of cash flows,
statement of changes in equity,
notes to the financial statements, and
directors’ declarations.
The financial report must present a true and fair view of the corporation’s financial position and performance.
Where a corporation controls other entities, consolidated financial statements may also be required in accordance with AASB 10 Consolidated Financial Statements.
Some eligible CATSI corporations may also qualify to apply Tier 2 Simplified Disclosure requirements under AASB 1053 and AASB 1060.
J O’Connor Pty Ltd assists eligible CATSI corporations with consolidated gross operating income between $100,000 and $5 million with:
annual financial reporting requirements,
independent audit engagements,
ORIC compliance obligations,
governance and accountability requirements, and
audit readiness and financial reporting support.
Final Call to Action
Let’s make compliance clear, calm, and straightforward — so you can stay focused on your mission.
To prepare an accurate audit quote or tender, we just need a few key details from you:
Legal name of your organisation
Accounting software or cashbook used (e.g. Xero, MYOB, Excel, manual records)
Last year’s financial statements or
Total revenue and total wages for the previous financial year
Total current assets as of your most recent year-end date
You’re welcome to email these through or request a secure Dropbox link for upload.
Once we have this information, we’ll provide a clear, fixed-fee proposal tailored to your organisation.