Insights Archives

Transitioning from Tier 2 to Tier 3 financial reporting

If you are a small to medium-sized charity or incorporated society now is a good time to select which accounting standards for not-for-profit (NFP) reporting requirements may be right for your organisation. This is because these thresholds have recently changed and there is an opportunity for some Tier 2 organisations to move to more simplified Tier 3 financial reporting. The New Zealand External Reporting Board (XRB) recently set out new criteria for the threshold size of some reporting Tiers.

bvoaudit_user2024-10-18T13:02:38+13:00October 17, 2024|Insights|

How to Avoid the Common Pitfalls of Not-For-Profits: A Practical Guide

Not For Profit (NFP) organisations are integral parts of New Zealand society. However, they are often hindered from their mission by financial planning pitfalls. In this article, we have compiled 15 expert solutions to ensure that your NFP can focus on making bigger difference in our community.

bvoaudit_user2024-07-15T12:13:28+12:00June 20, 2024|Insights|

Not-For-Profit Accounting: How to Perfect Your Budget

Budgets lie in the centre of many accounting issues for not-for-profit organisations. Therefore, a well-structured budget can help your NFP stay on track, achieve its mission, and make a lasting impact. Check out our 10 top tips about how to achieve this.

bvoaudit_user2024-07-15T12:14:51+12:00June 20, 2024|Insights|

What is the difference between audit services and reviews?

One way to streamline not for profit reporting requirements is to be clear about the difference between audit services and reviews. This article shares the nuances between the two services.

bvoaudit_user2024-07-08T12:09:18+12:00May 9, 2024|Insights|

14 steps to make not-for-profit financial reporting a success

The end of the financial year (EOFY) is an important time for not-for-profit organisations (NFPs) to review their financial performance, finalise their financial statements, and prepare for the upcoming year. Follow our 14 steps on how to approach you or your client’s financial not-for-profit financial reporting requirements for year-end.

bvoaudit_user2024-07-08T12:03:15+12:00February 21, 2024|Insights|

Understanding financial reporting tiers

Within the myriad of technical jargon that accountants and auditors frequently use is reference to the financial reporting tier structure. This blog looks at what these tiers mean in relationship to financial statements and audit requirements.

bvoaudit_user2024-07-08T12:03:30+12:00December 15, 2023|Insights|

How Auckland businesses are supported by BIDs

To help local businesses thrive and be more effective, Auckland businesses can draw on the support of various business associations and organisations. The Hōtaka ā-Rohe Whakapiki Pakihi or Business Improvement District (BID) Programme is run by Auckland Council. It is designed to support economic development, enhance security and advocate for the interests of Auckland businesses. Find out more about how BIDs support Auckland businesses.

bvoaudit_user2024-07-08T12:05:13+12:00November 17, 2023|Insights|

Creating an effective fundraising plan for a not-for-profit organisation

A well-designed plan is crucial for effective fundraising for not for profit organisations. This plan can help an organisation build and sustain long-term relationships with donors, diversify its funding sources, and achieve its mission and objectives. Find out the 12 steps you need to know to develop a fundraising plan.

bvoaudit_user2024-07-08T12:11:36+12:00November 10, 2023|Insights|

Stakeholder Management Success: 9 Steps To Get You There

By identifying and mapping Stakeholder goals with your own, you can find common ground and leverage this to build stronger relationships that will benefit your organisation and theirs. Good stakeholder management is crucial to deliver the assurance that clients seek from their financial and audit service providers.

bvoaudit_user2024-07-08T11:57:35+12:00September 28, 2023|Insights|

Financial Reporting And Audit Requirements For Overseas Property Investors

Are you an overseas investor? Did you know that you may be required to prepare financial statements and have these audited? When investing into New Zealand, it is essential to be aware of NZ financial reporting and audit requirements.

bvoaudit_user2024-05-31T15:52:37+12:00August 28, 2023|Insights|

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