Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Financial Reporting Bill passes first reading



Hon Craig Foss
Minister of Commerce
28 November 2012 Media Statement

Financial Reporting Bill passes first reading

A Bill that removes the requirement for smaller companies to produce complex financial statements has passed its first reading in Parliament.

The Financial Reporting Bill allows shareholders of small and medium sized companies to decide whether the company must prepare financial statements says Commerce Minister Craig Foss.

“More than half a million companies are registered in New Zealand and all of them are currently required to prepare financial statements.

“This Bill will remove expensive and unnecessary reporting obligations. Small and medium-sized companies will then be able to direct resources where the need is greatest - growing their business,” says Mr Foss.

The Bill will also improve the quality of financial reporting by charities and allow the External Reporting Board to issue accounting standards for registered charities.

“The Bill will clarify what is expected of charities, improve the quality of financial reporting and allow easier comparisons between charities,” says Mr Foss.

The Financial Reporting Bill has been referred to the Commerce Select Committee.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Budget

It may seem like Oliver to be so bold as to ask the Finance Minister for more gruel – but what the Dickens, Steven Joyce… is this Budget really as good as it gets?

Supposedly, the public was going to receive significant rewards – an election year lolly scramble no less – for the eight years of belt tightening that they’ve endured, and for the rundown of essential public services.

Well, what Budget 2017 delivered instead in Education and in Health were allocations barely sufficient to maintain the current levels of service delivery More>>

Scoop Full Coverage: of Budget Announcements & Reaction
Latest: Scoop Search

 
 

PM's Press Conference: Two More Troops?

Prime Minister Bill English gave a summary his highlights of last week’s budget announcement... The Prime minister was asked about NATO’s request for New Zealand to send two more personnel to Afghanistan and whether or not we will send them. More>>

ALSO:

Carer Settlement: Threat Of Staff Exodus In Mental Health

As a result of the recent pay rise awarded to their aged care and disability sector colleagues, many staff in non-government mental health and addiction organisations are considering leaving to join these workforces. More>>

ALSO:

Climate Policy: New Zealand Set To Blow Its Carbon Budget By 27%

The Government’s Greenhouse Gas Inventory shows New Zealand is set to release 647.5 million tonnes of carbon emissions between 2013 and 2020 – 137 million tonnes more than we are allowed under the Kyoto Protocol. More>>

ALSO:

Earlier:

Christchurch Considers Cathedral, Stadium: Cathedral Working Group Report Released

“About half of Christchurch wants to see the cathedral reinstated, the other half wants something new and more modern, but really, everyone just needs a decision." More>>

ALSO:

Auditor-General Stands Down For Investigation: Gordon Campbell On (Not) Taking Responsibility

So Martin Matthews, our current Auditor-General wishes he could have detected “earlier” the fraud that occurred on his watch at the Ministry of Transport. Hmmm. But he could have detected it earlier, surely? That’s the point. More>>

ALSO:

 
 
 
 

Opening The Election Supporters

 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election