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Audit Insights

Supporting you to achieve your goals

  • The 31 March is a good time to plan for end of year financial reporting requirements for not for profit organisations.

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

February 21, 2024|Insights|

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.

  • Understand financial reporting requirements for tiers.

Understanding financial reporting tiers

December 15, 2023|Insights|

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.

  • Auckland businesses are supported by the Auckland Business Improvement District programme.

How Auckland businesses are supported by BIDs

November 17, 2023|Insights|

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.

9 Good Steps To Working Well With Your Stakeholders

September 28, 2023|Insights|

  Stakeholders are individuals or organisations that your organisation has mutually beneficial relationships with. By identifying and mapping their goals with your own, you can find common ground and leverage this to build stronger relationships that will benefit your organisation and theirs. Achieving stakeholder goals requires careful planning, effective communication, and a proactive approach to addressing their needs and concerns. To support you to work well with your stakeholders, our founder Alex Houghton has put together a list of nine good steps you can take to create the best return on these relationships. Identify your stakeholders: Make a list of all the individuals or groups who have an interest in or can be impacted by your project, business, or initiative. This may include customers, employees, investors, community members, government agencies, and more. Understand their goals: Take the time to recognise the specific goals, expectations, and concerns of each stakeholder. This may be done through surveys, interviews, meetings, or other forms of communication. Consider their short-term and [...]

Audit Requirements For Overseas Property Investors

August 28, 2023|Insights|

Are you an overseas investor? Did you know that you may be required to prepare financial statements and have these audited? It may be business as usual (BAU) for the New Zealand subsidiary or branch of an overseas company trading in goods and services to be aware of their financial reporting and audit requirements as part of their due diligence when investing into New Zealand. And if you fit this description and are unsure of the legal financial  commitments, you can always refer to our handy Audit Decision Tree. However, where an overseas investor purchases a larger investment property with a value over $22M, it may not be apparent that they need to prepare audited financial statements. This is due to the financial reporting and audit requirements of the New Zealand Companies Act 1993. Interestingly, there is no real trigger to owners of large investment properties to prepare, and file audited financial statements. Therefore, they rely on their professional advisor to advise them of these requirements [...]

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