13 questions
Online Financial Summary (OFS)
What is an Online Financial Summary (OFS)?
Who are exempted from submitting the Online Financial Summary (OFS)?
What are the requirements on reporting on overseas expenditures, capital outlay and remittance of funds as agents? Why does the Office of the COC require charities to disclose overseas expenditure, capital outlay and remittance of funds as an agent or trustee?
What types of overseas expenditure need to be disclosed; and how should my charity classify the disclosure of overseas expenditure?
What types of expenditure are exempted from detailed reporting?
What types of overseas capital outlay need to be disclosed? And how should my charity classify the disclosure of overseas capital outlay?
What does “overseas remittance of funds received as an agent or trustee” mean? When should such disclosures be made?
Can the Office of the COC provide some examples how charities should report the overseas expenditure/capital outlay/remittance of funds?
Are charities required to report the overseas expenditure/capital outlay/remittance of funds as agents as well as the corresponding countries in the financial statements?
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