Auditing inventory in a different country comes with challenges. For international businesses with a presence in New Zealand, verifying physical stock, plant, and equipment for a remote subsidiary can be complex, costly, and time-consuming. Distance often creates obstacles. Sending staff across national borders is expensive, logistically challenging, and often impractical. That is where we come in.
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.
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.
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.
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.
From an auditing and accounting perspective, it is vital that all members of the organisation understand the duties of a treasurer and how to manage the organisation’s finances. In this blog, BVO Audit Director Alex Houghton shares the 15 tasks a treasurer must get very good at to run an effective not-for-profit organisation.
An external independent audit will identify the major issues concerning Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) procedures and controls, and uncover any short-comings.
The purpose of an audit or review is to assure stakeholders that the information presented in financial statements is as correct as possible - a standard often referred to as a true and fair representation of the accounts.
The Incorporated Societies Act 2022 will bring new rules governing the preparation of financial statements in line with other not-for-profit entities, especially for smaller societies with an OPEX less than $2m.
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