Revised Proposals On Auditing For Charities
21 February 2013
Revised Proposals On
Auditing For Charities
Commerce Minister Craig
Foss has today released a second discussion document on
measures to improve financial accountability in the
The discussion document lays out
audit and assurance requirements for large and medium-sized
charities. It follows a consultation on tentative proposals
“The consultation showed widespread
support for improved auditing and assurance of financial
statements and agreement that these measures would increase
accountability in the charities sector.
concerns were raised that the requirements captured too many
charities and that these charities were not resourced to
meet the new demands.
“These concerns have been
taken into account in this discussion document and I look
forward to hearing feedback on the revised proposals,”
says Mr Foss.
Under the proposals, charities with
operating expenditure of $1 million or more would be
required to have an audit completed. Those with operating
expenditure of $400,000 to $1 million could voluntarily
obtain an audit or a review.
requirements would apply to 3,150 of the 25,000 registered
charities,” says Mr Foss.
MBIE is also taking part
in the External Reporting Board’s financial reporting
roadshow, which will take place between March and May and is
targeted at the charities sector.
17 May 2013.
For further information, visit http://www.med.govt.nz/business/business-law/financial-reporting-framework-review/consultation-on-audit-and-assurance-for-registered-charities
© Scoop Media
Gordon Campbell: On The 2013 Budget
Among Thursday’s main talking points:
We are apparently on track for a margin-of-error $75 million surplus, now in sight for 2014/15. But this sickly creature is hobbling out of the lab on the basis of all kinds of facilitative conjuring: such as trimming by $200 million the amount of new spending next time around.
With this strictly nominal surplus in sight, the 1984-ish justification for eternal austerity will have a news talisman: namely, getting Crown debt down to 20% of GDP by 2020. More>>
Budget Report, Lockup Audio & Images: Budget Day 2013 As always and especially after the managerial mishaps of the past few weeks and months, (e.g. Aaron Gilmore, the Mighty River Power share float, the GCSB mishaps) Budget Day 2013 was always going to be a pageant of reassurance... More>>
Budget 2013 Comment: Plain Sailing, But It's No America's Cup Pattrick Smellie: Compared to the last four budgets, this year's reflects an economy moving out of recession and into calmer waters... Yet if the fastest annual growth rate we can expect over the next two years is 3 percent - with the Christchurch rebuild in full swing - then you'd have to say New Zealand's underlying low-growth problem is far from fixed. More>>
Auckland Discord: Govt’s Power Hungry Housing Approach A Threat - Labour
Last week the Government said this, ‘The Government commits not to use any proposed or existing powers ... to override the council's planning and consenting processes’. But its housing Bill says this; ‘If an accord cannot be reached in an area of severe housing unaffordability, the Government can intervene by establishing special housing areas and issuing consents for developers’. More>>
Extending Protest Ban, Relaxing Permit Rules: Govt Abuses Urgency To Extend Anadarko Amendment
The Government is trying to pass legislation under urgency which would make the Anadarko Amendment – which limits protest at sea – apply to an additional 1.7 million square kilometres, the Green Party said today. More>>