So why do businesses go through the budgeting/planning process? Budgeting provides users with a financial framework they can work within. Budgets encourage businesses to look ahead into a finite period of time and establish a plan outlining objectives they wish to achieve and how they will be achieved, whether the objectives are financial or non-financial.
Times are changing and the expectation of directors’ responsibilities have increased and changed. This is as a result of the economic and regulatory influences driven by global financial issues and local factors such as the finance company failures and the Pike River tragedy. These issues put the spotlight on directors, resulting in legislative and regulatory compliance becoming more demanding.
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.
Inland Revenue have recently published details of some of the issues identified from the BCP process in the 2015 tax year. These issues were identified from a mix of voluntary disclosures following further information requests and audit letters and also from issues found during audits. These issues can apply to enterprises of all sizes. For your information, we identify the top 10 issues.
Winning a July 2016 Taxation Review Authority (TRA) decision recently saved a Staples Rodway client nearly $1 million in income tax. The taxpayer involved is a long-standing client, and the Taxation Review Authority case was presented by Staples Rodway Auckland’s Mike Rudd, a Tax Director, with the assistance of Phil Pavis, a Business Advisory Director.
Immigration is currently a very hot topic with many countries increasingly becoming opposed to globalisation and becoming more insular. New Zealand however, has a long-standing openness and reliance on foreign investment, and trying to attract wealth that can be mutually beneficial to both New Zealand and the investors. We look at Investors paths to permanent residence in New Zealand.