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

 


Revised Proposals On Auditing For Charities



Hon Craig Foss
Minister of Commerce


21 February 2013
Media Statement

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 charities sector.

The discussion document lays out audit and assurance requirements for large and medium-sized charities. It follows a consultation on tentative proposals last year.

“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.

“However, 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.

“These revised 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.

Submissions close 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

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Greens: Russel Norman To Stand Down As Co-Leader

Green Party Co-leader Dr Russel Norman has announced today that he will stand down as leader at the party’s Annual General Meeting in May. Dr Norman will remain as Co-leader and retain his finance and climate change portfolios until the AGM.

“After nearly a decade as Co-leader, now is a good time to find a new challenge for myself, and to spend more time with my family” said Dr Norman.

“This is my ninth year as Co-leader and I think it’s time for a change. Now is a good time for new leadership for the Party. My replacement will start from a strengthened base and will have a full parliamentary term to establish himself in the role and take the Greens into government in 2017." More>>

 

Gordon Campbell: On The Eleanor Catton Rumpus

If anyone was in doubt about the accuracy of the comments made in India by Eleanor Catton, the reaction from some quarters here at home has gone a long way to proving her point… More>>

ALSO:

More Rent Assistance, Less State-Owned Housing: John Key Speech - Next Steps In Social Housing

"We are going to ensure that more people get into social housing over the next three years, whether that is run by Housing New Zealand or a community provider. The social housing budget provides for around 62,000 income-related rent subsidies a year. We are committed to increasing that to around 65,000 subsidies by 2017/18, which will cost an extra $40 million a year." More>>

ALSO:

The Future Of Work: Andrew Little - State Of The Nation 2015

In 2005 when I led the EPMU we worked together with Air New Zealand to find a way to keep engineering jobs that were heading overseas. A lot of these workers were people I’d known for years and they were facing not just losing their jobs but not being able to find the kind of work they do without going overseas. A lot of people were facing personal and financial upheaval.... More>>

ALSO:

Gordon Campbell: On The Sabin Case, The Pressures On Greece And (Songs About) Coyotes

Mike Sabin is a National MP, and the current chairman of Parliament’s law and order committee. Yet reportedly, he is being investigated by the Police over an assault complaint... However, the PM will not comment on any aspect of the story. More>>

ALSO:

Houses, ISIS, King (& Catton): PM Post-Cabinet Press Conference

The Prime Minister met with reporters to discuss: • Social housing, the Auckland housing market • The prospect of joining international forces to combat ISIS • David Bain’s compensation • The lowering of the flag for the King of Saudi Arabia's death ... More>>

ALSO:

Gordon Campbell: On Tomorrow’s Speeches By John Key And Andrew Little

The Key government has already kicked off the political year on a stridently ideological note, with Environment Minister Nick Smith choosing to lay all manner of sins at the door of the RMA. Tomorrow, the government will wheeling out its best salesman – Prime Minister John Key – to sell its plans for state housing… . More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news