Domestic Violence Victoria (DV VIC) Inc. Financial Report

Domestic Violence Victoria (DV VIC) Inc.Financial Report

For the Year Ended 30 June 2020

Domestic Violence Victoria (DV VIC) Inc.ABN: 77 965 665 912

ContentsFor the Year Ended 30 June 2020

PageBoard's Report 1Auditor's Independence Declaration 2Statement of Income and Expenditure and Other Comprehensive Income 3Statement of Financial Position 4Statement of Changes in Equity 5Statement of Cash Flows 6Notes to the Financial Statements 7Statement by Members of the Board 18Independent Audit Report 19


Board's Report30 June 2020

Your board members submit the financial report of Domestic Violence Victoria (DV VIC) Inc. for the financial year ended 30 June 2020.

Board Members

The names of board members through the year and at the date of this report are:

Belinda Lo Deborah Bryant

Gayle Correnti Helen Bolton

Helen Campbell Julie McQueen

Leah van Poppel Margaret Augerinos

Michal Morris Sally Thompson

Stacey Ong Tania Rose

Maya Avdibegovic

Principal activities

The principal activities of Domestic Violence Victoria (DV VIC) Inc. during the financial year were to provide advocacy on behalf ofmembers of the association.

Significant changes

No significant change in the nature of Domestic Violence Victoria (DV VIC) Inc.'s principal activities occurred during the year.

Surplus/deficit

The surplus for the 2020 financial year amounted to $ 261,859 (2019: $ 76,693).

The association is exempt from Income Tax.

Signed in accordance with a resolution of the board members:

Board Member: ...........................................................................................................................................................

Board Member: ...........................................................................................................................................................

Dated this .............................. day of .............................. 2020

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Auditor's Independence Declaration Domestic Violence Victoria (DV VIC) Inc. DomesticViolence Victoria (DV VIC) Inc.

I declare that, to the best of my knowledge and belief, during the year ended 30 June 2020, there have been:

(i) no contraventions of the auditor independence requirements as set out in section 60-40 of the Australian Charities and Not-for-profits Commission Act 2012 in relation to the audit; and

(ii) no contraventions of any applicable code of professional conduct in relation to the audit.

Saward Dawson

Jeffrey TulkPartner

Blackburn

Date:

2

Saward Dawson

Jefffrey TuTulklk

12 November 2020


Statement of Income and Expenditure and Other Comprehensive IncomeFor the Year Ended 30 June 2020

Note2020

$2019

$Revenue 2 2,975,341 2,278,960

Employee benefits expense (2,070,700) (1,695,290)Consultancy fees (378,930) (127,062)Conferences, Events and Forum expenses (71,560) (89,200)Rent (49,436) (52,549)Staff training and professional development (26,776) (27,474)Depreciation expense (4,015) (38,729)Computer, website and other IT expenses (8,152) (22,100)Phone fax and internet expenses (14,463) (19,120)Office refit expenses - (18,935)Travel & accommodation expenses (19,881) (15,491)Annual Report and Meeting expenses (3,684) (14,668)Accreditation - (10,568)Administration and other expenses (65,885) (71,081)

Surplus for the year 261,859 76,693

Other comprehensive income for the year - -

Total comprehensive income for the year 261,859 76,693

The accompanying notes form part of these financial statements.3


Statement of Financial PositionAs at 30 June 2020

Note2020

$2019

$

ASSETSCURRENT ASSETSCash and cash equivalents 3 1,894,087 1,674,877Trade and other receivables 4 56,017 7,774Other assets 6 - 320TOTAL CURRENT ASSETS 1,950,104 1,682,971NON-CURRENT ASSETSProperty, plant and equipment 5 16,772 7,885TOTAL NON-CURRENT ASSETS 16,772 7,885TOTAL ASSETS 1,966,876 1,690,856

LIABILITIESCURRENT LIABILITIESTrade and other payables 7 144,269 115,722Short-term provisions 8 132,234 79,197Other liabilities 9 301,630 359,711TOTAL CURRENT LIABILITIES 578,133 554,630NON-CURRENT LIABILITIESLong-term provisions 8 34,656 43,998TOTAL NON-CURRENT LIABILITIES 34,656 43,998TOTAL LIABILITIES 612,789 598,628NET ASSETS 1,354,087 1,092,228

EQUITYReserves 10 23,674 23,674Retained earnings 1,330,413 1,068,554TOTAL EQUITY 1,354,087 1,092,228



Statement of Changes in EquityFor the Year Ended 30 June 2020

2020RetainedEarnings

$

Stella YoungReserve

$Total

$Balance at 1 July 2019 1,068,554 23,674 1,092,228Surplus for the year 261,859 - 261,859

Balance at 30 June 2020 1,330,413 23,674 1,354,087

2019RetainedEarnings

$

Stella YoungReserve

$Total

$Balance at 1 July 2018 991,861 23,674 1,015,535Surplus for the year 76,693 - 76,693

Balance at 30 June 2019 1,068,554 23,674 1,092,228



Statement of Cash FlowsFor the Year Ended 30 June 2020

Note2020

$2019

$

CASH FLOWS FROM OPERATING ACTIVITIES:Receipts of grants and membership 2,631,427 1,961,645Donations, bequests and other income 445,311 153,955Payments to suppliers and employees (2,865,209) (2,341,340)Interest received 20,583 16,686

Net cash provided by/(used in) operating activities 14 232,112 (209,054)

CASH FLOWS FROM INVESTING ACTIVITIES:Payment for plant and equipment (12,902) (8,469)

Net cash provided by/(used in) investing activities (12,902) (8,469)

Net increase/(decrease) in cash and cash equivalents held 219,210 (217,523)Cash and cash equivalents at beginning of year 1,674,877 1,892,400

Cash and cash equivalents at end of financial year 3 1,894,087 1,674,877



Notes to the Financial StatementsFor the Year Ended 30 June 2020

1 Summary of Significant Accounting Policies

(a) Reporting Basis

The financial report covers Domestic Violence Victoria (DV VIC) as an individual entity. The association is incorporated anddomiciled in Victoria under the Association Incorporation Reform Act 2012.

Financial Reporting Framework

The board members have prepared the financial statements on the basis that the association is a non-reporting entitybecause there are no users dependent on general purpose financial statements. These financial statements are thereforespecial purpose financial statements that have been prepared in order to meet the requirements of the Australian Charitiesand Not-for-profits Commission Act 2012. The association is a not-for-profit entity for financial reporting purposes underAustralian Accounting Standards.

The financial statements have been prepared in accordance with the mandatory Australian Accounting Standards applicableto entities reporting under the Australian Charities and Not-for-profits Commission Act 2012 and the significant accountingpolicies disclosed below, which the board members have determined are appropriate to meet the needs of members. Suchaccounting policies are consistent with those of previous periods unless stated otherwise.

Statement of Compliance

The financial statements have been prepared in accordance with the mandatory Australian Accounting Standards applicableto entities reporting under the Australian Charities and Not-for-profits Commission Act 2012, the disclosure requirements ofAccounting Standards AASB 101: Presentation of Financial Statements, AASB 107: Cash Flow Statements, AASB 108:Accounting Policies, Changes in Accounting Estimates and Errors, AASB 1031: Materiality and AASB 1054: AustralianAdditional Disclosures, and all the basis of accounting specified by all Australian Accounting Standards and Interpretations.

The association has concluded that the requirements set out in AASB 10 and AASB 128 are not applicable as the initialassessment on its interests in other entities indicated that it does not have any subsidiaries, associates or joint ventures.Hence, the financial statements comply with all the recognition and measurement requirements in Australian AccountingStandards.

Basis of Preparation

The financial statements, except for the cash flow information, have been prepared on an accruals basis and are based onhistorical costs unless otherwise stated in the notes. Material accounting policies adopted in the preparation of thesefinancial statements are presented below and have been consistently applied unless stated otherwise. The amountspresented in the financial statements have been rounded to the nearest dollar.

(b) Revenue

The Association has adopted AASB 15 Revenue from Contracts with Customers and AASB 1058 Income of Not-for-ProfitEntities for the first time in the current year with a date of initial application of 1 July 2019.

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(b) Revenue

The association has applied AASB 15 and AASB 1058 using the cumulative effect method which means the comparativeinformation has not been restated and continues to be reported under AASB 111, AASB 118, AASB 1004 and relatedinterpretations. No adjustment has been made on adoption of AASB 15 and AASB 1058.

The core principle of AASB 15 is that revenue is recognised on a basis that reflects the transfer of promised goods orservices to customers at an amount that reflects the consideration the association expects to receive in exchange for thosegoods or services. Revenue is recognised by applying a five-step model as follows:

1. Identify the contract with the customer

2. Identify the performance obligations

3. Determine the transaction price

4. Allocate the transaction price to the performance obligations

5. Recognise revenue as and when control of the performance obligations is transferred

Generally the timing of the payment for sale of goods and rendering of services corresponds closely to the timing ofsatisfaction of the performance obligations, however where there is a difference, it will result in the recognition of areceivable, contract asset or contract liability.

None of the revenue streams of the association have any significant financing terms as there is less than 12 monthsbetween receipt of funds and satisfaction of performance obligations.

The key changes to the association's accounting policies and the impact on these financial statements from applyingAASB15 and AASB 1058 are described below

Membership fees

The association recognises membership revenue over the period when access to membership benefit is provided.

Grants, donations and bequests

When the Association receives grants, donations and bequests it assesses whether a contract exists and whether thatcontract is enforceable and has sufficiently specific performance obligations in accordance with AASB 15.

When these conditions are satisfied, the Association:

identifies each performance obligation relating to the grant, donation or bequest;

recognises a contract liability for its obligations under the contract; and

recognises revenue as it satisfies its performance obligations.

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(b) Revenue

When the contract is not enforceable or does not have sufficient specific performance obligations, the grant, donation orbequest is recognised immediately in profit or loss.

Government grants under the Australian Government JobKeeper wage subsidy program have been recognised as revenuewhen the Association became entitled to receive the grants, which was assessed to be the time at which the salary andwages payments for the eligible JobKeeper fortnight were made to eligible employees.

Government grants under the Australian Government cash flow boost initiative have been recognised as revenue when theAssociation became entitled to receive the grants, which was assessed to be the time at which the applicable ActivityStatements were lodged with the Australian Taxation Office.

Interest income

Interest income is recognised using the effective interest method, which for floating rate financial instruments is the rateinherent in the instrument.

Other revenue

Other revenue is recognised when the right to receive the revenue has been established.

(c) Income Tax

The Association is a charity registered with the Australian Charities and Not-for-profits Commission and is exempt fromincome tax under Division 50 of the Income Tax Assessment Act 1997.

(d) Goods and services tax (GST)

Revenue, expenses and assets are recognised net of the amount of goods and services tax (GST), except where theamount of GST incurred is not recoverable from the Australian Taxation Office (ATO). Receivables and payable are statedinclusive of GST.

Cash flows in the statement of cash flows are included on a gross basis and the GST component of cash flows arising frominvesting and financing activities which is recoverable from, or payable to, the taxation authority is classified as operatingcash flows.

(e) Cash and cash equivalents

Cash and cash equivalents comprises cash on hand, demand deposits and short-term investments which are readilyconvertible to known amounts of cash and which are subject to an insignificant risk of change in value.

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(f) Leases

The Association has applied AASB 16: Leases.

At inception of a contract, the Association assesses whether a lease exists - i.e. does the contract convey the right tocontrol the use of an identified asset for a period of time in exchange for consideration.

This involves an assessment of whether:

The contract involves the use of an identified asset - this may be explicitly or implicitly identified within theagreement. If the supplier has a substantive substitution right then there is no identified asset.

The Association has the right to obtain substantially all of the economic benefits from the use of the assetthroughout the period of use.

The Association has the right to direct the use of the asset i.e. decision making rights in relation to changing howand for what purpose the asset is used.

Exceptions to lease accounting

The Association has elected to apply the exceptions to lease accounting for both short-term leases (i.e. leases with a termof less than or equal to 12 months) and leases of low-value assets. The Association recognises the payments associatedwith these leases as an expense on a straight-line basis over the lease term.

(g) Inventories

Inventories are measured at the lower of cost and net realisable value.

(h) Property, plant and equipment

Office equipment is carried at cost or fair value less, where applicable, any accumulated depreciation and impairment.

Depreciation

Office equipment is depreciated on a straight-line basis over the assets useful life to the Association, commencing when theasset is ready for use.

The depreciation rates used for each class of depreciable asset are shown below:

Fixed asset class Depreciation rateComputer Equipment 33.33%

At the end of each annual reporting period, the depreciation method, useful life and residual value of each asset isreviewed. Any revisions are accounted for prospectively as a change in estimate.

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(i) Financial instruments

Financial instruments are recognised initially on the date that the Association becomes party to the contractual provisions ofthe instrument. On initial recognition, all financial instruments are measured at fair value plus transaction costs (except forinstruments measured at fair value through profit or loss where transaction costs are expensed as incurred).

Financial assets

Classification

On initial recognition, the Association classifies its financial assets into the following categories, those measured at:

fair value through profit or loss - FVTPL

Financial assets are not reclassified subsequent to their initial recognition unless the Association changes its businessmodel for managing financial assets.

Interest income, foreign exchange gains or losses and impairment are recognised in profit or loss. Gain or loss onderecognition is recognised in profit or loss.

Financial assets through profit or loss

All financial assets not classified as measured at amortised cost or fair value through other comprehensive income asdescribed above are measured at FVTPL.

Net gains or losses, including any interest or dividend income, are recognised in profit or loss.

The association's financial assets measured at FVTPL comprise term deposits in the statement of financial position.

Impairment of financial assets

At the end of each reporting period, the association assesses whether there is objective evidence that a financial instrumenthas been impaired. Impairment losses are recognised in the statement of income and expenditure and other comprehensiveincome.

Derecognition

Financial assets are derecognised where the contractual rights to receipt of cash flows expires or the asset is transferred toanother party whereby the entity no longer has any significant continuing involvement in the risks and benefits associatedwith the asset.

Trade receivables

Accounts receivable and other debtors include amounts due from members as well as amounts receivable from customersfor goods sold in the ordinary course of business. Receivables expected to be collected within 12 months of the end of thereporting period are classified as current assets. All other receivables are classified as non-current assets.

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(i) Financial instruments

Financial liabilities

The Association measures all financial liabilities initially at fair value less transaction costs. Subsequently, financial liabilitiesare measured at amortised cost using the effective interest rate method.

The financial liabilities of the Association comprise trade payables, bank and other loans and finance lease liabilities.

(j) Employee benefits

Provision is made for the association’s obligation for short-term employee benefits. Short-term employee benefits arebenefits (other than termination benefits) that are expected to be settled wholly before 12 months after the end of the annualreporting period in which the employees render the related service, including wages, salaries and sick leave. Short-termemployee benefits are measured at the (undiscounted) amounts expected to be paid when the obligation is settled.

The association's obligations for short-term employee benefits such as wages, salaries and sick leave are recognised aspart of accounts payable and other payables in the statement of financial position.

Contributions are made by the association to an employee superannuation fund and are charged as expenses whenincurred.

Portable long service leave

From 1 July 2019, eligible employees of the association became covered by the Victorian Portable Long Service BenefitsScheme. The association has commenced paying long service leave levies for eligible employees to the Portable LongService Authority on a quarterly basis.

Due to the introduction of this scheme, the association's provision for long service leave consists principally of the estimatedvalue of long service leave entitlements accrued up to 30 June 2019.

(k) Comparative figures

When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation forthe current financial year.

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2020$

2019$

2 RevenueOperating activitiesRevenue from contracts with members:- Members subscriptions and services 78,126 70,331- Donations and bequests received 43,600 99,012

121,726 169,343

Revenue from other sources:- Government grants - DHHS 2,211,623 2,046,815- Government grants - JobKeeper 162,000 -- Government grants - cash flow boost 50,000 -- Philanthropic and charitable funds 401,711 -- Interest income 20,583 20,794- Other income 7,698 42,007

2,853,615 2,109,616

Total revenue 2,975,341 2,278,959

3 Cash and Cash EquivalentsBank balances 692,151 674,877Other financial asset 1,201,936 1,000,000

1,894,087 1,674,877

Other financial assets comprise term deposits as follows:

6 months term deposit of $600,000 invested at an interest rate of 0.80% maturing on 30 December 2020, in addition to theterm deposit balance is $1,936 accrued interest earnings to be paid to cheque account after year-end; and

4 months term deposit of $600,000 invested at an interest rate of 0.80% maturing on 20 October 2020.

4 Trade and Other ReceivablesCURRENTTrade receivables 2,017 7,774JobKeeper payment receivable 54,000 -

56,017 7,774

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2020$

2019$

5 Property, plant and equipmentPLANT AND EQUIPMENTOffice equipmentAt cost 102,493 89,591Accumulated depreciation (85,721) (81,706)

Total office equipment 16,772 7,885

Total property, plant and equipment 16,772 7,885

6 Other AssetsCURRENTPrepayment - 320

7 Trade and Other Payables

CURRENTTrade payables 35,402 23,302Accrued expenses 9,230 10,236GST Payable 68,219 44,546PAYG Payable 31,418 37,638

144,269 115,722

Trade and other payables are unsecured, non-interest bearing and are normally settled within 30 days. The carrying value of tradeand other payables is considered a reasonable approximation of fair value due to the short-term nature of the balances.

8 ProvisionsCURRENTAnnual leave 130,371 77,295Long service leave 1,863 1,902

132,234 79,197

NON-CURRENTLong service leave 34,656 43,998

9 Other LiabilitiesCURRENTGrants received in advance 301,630 359,711

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10 Reserves

Stella Young Reserve

The Stella Young Reserve relates to unexpended bequests provided towards projects relating to support of victims of domesticviolence, particularly those with disabilities.

11 Key Management Personnel Remuneration

The totals of remuneration paid to the key management personnel of Domestic Violence Victoria (DV VIC) Inc. during the year areas follows:

2020$

2019$

Short-term employee benefits 555,226 598,513

12 Auditors' Remuneration

Remuneration of the auditor, for:- auditing the financial statements 7,400 6,800

13 Related Parties

Transactions with related parties

Transactions between related parties are on normal commercial terms and conditions no more favourable than those available toother parties unless otherwise stated. The following transactions occurred with related parties:Lane Consulting (Board member Julie Lane) - accounting assistance - 750Bethany Community Support (Board member Bernadette McCartney) - 464

- 1,214

14 Cash Flow Information

Reconciliation of result for the year to cashflows from operating activities

Surplus for the year 261,859 76,693Non-cash flows in result:

- depreciation 4,015 38,729Changes in assets and liabilities:

- (increase)/decrease in trade and other receivables (48,243) (7,415)- increase/(decrease) in trade and other payables 28,547 (14,670)- (increase)/decrease in other assets 320 (320)- increase/(decrease) in employee benefits 43,695 9,303- increase/(decrease) in grants received in advance (58,081) (311,374)

Cashflows from operations 232,112 (209,054)

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15 Events after the end of the Reporting Period

COVID-19 Pandemic

Due to COVID-19 pandemic in 2020, the association was required to make some changes to the services it provides and itsemployees' working arrangement. The extent of the potential future impact cannot be determined at this time due to the uncertaintyaround the length of time it will take for Australia to manage COVID-19 and the rate of economic recovery after the event.

Given the nature of the entity, the board members do not expect significant decline in Federal Government funding and otherincome during the year ending 30 June 2021. On this basis, the board members are satisfied that the association will continue tooperate as a going concern.

Merger with Domestic Violence Resource Centre Incorporated Inc.

In June 2019, the Association (DV Vic) and Domestic Violence Resource Centre Incorporated Inc. (DVRCV) board announced itwas formally exploring a merger between DV Vic and DVRCV. A series of consultations were held with staff, members and keystakeholders as well as a clear and robust legal and financial due diligence process. On 26 March 2020, a special general meetingof DV Vic was held, and the members voted in favour of the merger of DV Vic and DVRCV.

On 9 June 2020, a Memorandum of Understanding (MOU) was signed between DV Vic and DVRCV in respect to the agreedapproach to and terms of a merger of the two organisations due to take place during the upcoming financial year.

The MOU will guide the implementation of the early stages of the merger, including:

Legal structure to achieve the merger

Transitional governance arrangements and other governance agreements

CEO appointment and initial strategic priorities

Shared financial management

RTO status

Legal transfer of all assets and liabilities

Branding and communication

Staff recruitment and retention

Winding down of DVRCV

Strategy and core functions

DV Vic will continue to operate as the legal entity after the merger of DV Vic and DVRCV.

Except for the above, no other matters or circumstances have arisen since the end of the financial year which significantly affectedor could significantly affect the operations of the Association, the results of those operations or the state of affairs of the Associationin future financial years.

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16 Statutory Information

The registered office and principal place of business of the association is:Domestic Violence Victoria (DV VIC) Inc.Level 2210 Lonsdale StMelbourne, VIC 3000

17


Statement by Members of the Board

The board members have determined that the association is not a reporting entity and that this special purpose financial report should beprepared in accordance with the Australian Charities and Not-for-Profits Commission Act 2012 and the Associations IncorporationReform Act 2012 the accounting policies outlined in Note 1 to the financial statements.

The board members of the incorporation declare that:

1. The financial statements and notes, as set out on pages 3 to 17, gives a true and fair view of the association's financial position asat 30 June 2020 and its performance for the year ended on that date in accordance with the accounting policies described in Note 1to the financial statements; and

2. In the members' opinion, there are reasonable grounds to believe that the association will be able to pay its debts as and when theybecome due and payable.

3. The financial statements and notes satisfy the requirements of the Australian Charities and Not-for-profit Commission Act 2012.

This declaration is made in accordance with a resolution of the board and is signed for and on behalf of the board by:

Board member .............................................................. Board member ...............................................................

Date:

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Independent Audit Report to the members of Domestic Violence Victoria (DV VIC) Inc.

Report on the Audit of the Financial Report

Opinion

We have audited the accompanying financial report, being a special purpose financial report of Domestic Violence Victoria (DV VIC) Inc.(the Association), which comprises the statement of financial position as at 30 June 2020, the income and expenditure and othercomprehensive income statement, the statement of changes in equity and the statement of cash flows for the year then ended, andnotes to the financial statements, including a summary of significant accounting policies, and the members of the board's declaration..

In our opinion, the accompanying financial report of the Association for the year ended 30 June 2020 is prepared, in all materialrespects, in accordance with Australian Charities and Not-for-Profits Commission Act 2012 and the Associations Incorporation ReformAct 2012, including:

giving a true and fair view of the registered entity's financial position as at 30 June 2020 and of its financial performance for the yearthen ended; and

complying with Australian Accounting Standards to the extent described in Note 1 and Division 60 of the Australian Charities andNot-for-Profits Commission Act 2012 and the Associations Incorporation Reform Act 2012

Basis for Opinion

We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are furtherdescribed in the Auditor's Responsibilities for the Audit of the Financial Report section of our report. We are independent of theAssociation in accordance with the auditor independence requirements of the ethical requirements of the Accounting Professional andEthical Standards Board's APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of thefinancial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter - Basis of Accounting

We draw attention to Note 1 of the financial report, which describes the basis of accounting. The financial report is prepared to assist theAssociation in the Australian Charities and Not-for-profits Commission Act 2012 and the Associations Incorporation Reform Act 2012. Asa result, the financial report may not be suitable for another purpose. Our report is intended solely for the Association and should not bedistributed to or used by parties other than the Association. Our opinion is not modified in respect of this matter.

Responsibilities of Management and Those Charged with Governance

The committee members of the association are responsible for the preparation and fair presentation of the financial report in accordancewith Australian Charities and Not-for-Profits Commission Act 2012 and the Associations Incorporation Reform Act 2012, and for suchinternal control as management determines is necessary to enable the preparation of the financial report is free from materialmisstatement, whether due to fraud or error.

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In preparing the financial report, committee members are responsible for assessing the Association's ability to continue as a goingconcern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Association or to cease operations, or has no realistic alternative but to do so.

The committee members are responsible for assessing the Association's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Report

Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement,whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level ofassurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect amaterial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in theaggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report.

As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professionalscepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and performaudit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis forour opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, asfraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in thecircumstances, but not for the purpose of expressing an opinion on the effectiveness of the Association’s internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and relateddisclosures made by the management.

Conclude on the appropriateness of the management’s use of the going concern basis of accounting and, based on the auditevidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on theAssociation’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to drawattention in our auditor’s report to the related disclosures in the financial reporter, if such disclosures are inadequate, to modifyour opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, futureevents or conditions may cause the Association to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether thefinancial report represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the management regarding, among other matters, the planned scope and timing of the audit and significant auditfindings, including any significant deficiencies in internal control that we identify during our audit.

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We also provide the management with a statement that we have complied with relevant ethical requirements regarding independence,and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, andwhere applicable, related safeguards.

From the matters communicated with the management, we determine those matters that were of most significance in the audit of thefinancial report of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless lawor regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter shouldnot be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the publicinterest benefits of such communication.

Saward Dawson

Jeffrey TulkPartner

Blackburn

Date:

21

Saaward Dawwson

Jefffrey TuTulklk

Saward DDawawson

12 November 2020

Domestic Violence Victoria (DV VIC) Inc. Financial Report

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