Latest Audit News

Keeping you up to date with topical business news and views.

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    Financial Reporting for Large Charities
    1 February 2018
    The new accounting standard establishes mandatory requirements for Tier 1 and Tier 2 public benefit entities to present service performance information within their annual financial statements.
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    Charity Performance Reporting - What's It All About?
    15 December 2017
    There is no doubt about it – registered charities perform a critical role in New Zealand society. How do we determine which charities we dedicate our time, money and goodwill to?
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    Are You Ready To Change How You Account For Revenue?
    8 August 2017
    NZ IFRS 15 Revenue from Contracts with Customers is the new accounting standard that will replace existing revenue standards and pronouncements in providing guidance on how to account for revenue. The new standard is effective for annual periods from 1 January 2018 and at a minimum one comparative (1 January 2017) period would need to be presented.
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    Adding Services to Grow Your Business
    27 July 2017
    Managing the growth phase of any business can be a daunting task. You need to add more services that compliment your existing portfolio and support your current client or customer base but finding that right fit can be hard.
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    Registered Charities – Statutory Audit or Review
    15 May 2017
    The reporting standards now determine the information charities need to provide as part of their annual reporting process, which is a legal requirement for all registered charities.
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    New Service Launched to Assist in Identifying Fraud
    2 April 2017
    Are you concerned about your business’s exposure to fraudulent activity? Would you like some assurance that the payments you make to your suppliers are all legitimate? Do you have appropriate procedures in place when checking your payments for approval or authorising bank transactions? Our Audit team has introduced a new service which assists in the identification of fraudulent or unusual activity, therefore providing your business with added confidence around anomalies in data.
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    2016, A Year of Change for Not-For-Profit Organisations
    13 October 2016
    There has been a significant change in the financial reporting and audit requirements for charities which commenced from 31 March 2016 year end onward. This has led to much more onerous and prescriptive reporting requirements for Non-Profit organisations.
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    Changed financial reporting requirements
    7 April 2015
    Changed financial reporting requirements for companies are in effect for balance dates from 31 March 2015 onwards
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    Proposed changes to audit reports
    16 February 2015
    Significant changes to the audit report are being introduced. Companies and their auditors will need to discuss the implications of these changes well in advance of them becoming required in New Zealand
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    Disclosure of fees paid to auditors
    26 May 2014
    The Financial Markets Authority ("the FMA") has undertaken a review of the disclosure of fees paid to auditors by listed issuers.
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    Upcoming changes to financial reporting
    26 May 2014
    For the best part of the last decade, successive New Zealand governments have signalled a desire to reduce the compliance costs faced by smaller companies by reducing the burden of their financial reporting and audit requirements
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    Do not be blown away by the AML CFT audit requirements
    30 July 2013
    It's possible that no other individual piece of New Zealand legislation has been responsible for the creation of more Three Letter Acronyms ('TLA's') than the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the 'Act'). So what is it all about, and what will it mean for you?
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