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.
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.
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.
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.
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
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
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?