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COMPANIES’ FINANCIAL REPORTING UNDER THE SPOTLIGHT

Article by Jackie Russell-Green NATIONAL TECHNICAL MANAGER jackie.russell-green@staplesrodway.com

Significant changes to New Zealand’s financial reporting requirements are coming into effect for balance dates from 31 March 2015 onwards. Staples Rodway’s National Technical Manager, Jackie Russell-Green, looks at what this means for New Zealand companies.

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F YOU’RE THE DIRECTOR OF a company, two of your fundamental duties are to manage the business effectively, for which you need high quality financial information, and to ensure that the company meets its statutory financial reporting obligations. As we reported in the autumn 2014 edition of Numbers, the financial reporting requirements for companies are changing. Many of these changes come into effect for the first time for 31 March 2015 balance dates. It’s important that company directors are aware of what this means for their company.

The decision tree on the right, and its accompanying notes, is designed to allow directors of for-profit companies to determine what their financial reporting requirements will be going forward. In the coming months, Staples Rodway will be working with all clients to make sure that their financial reporting meets all statutory requirements, enables them to get the financial information needed by shareholders, lenders and other key stakeholders and assists them to manage the business effectively.

Numbers mag autumn 2015 issuu  

Hawkins Profile | IRD Investigations | NZIPOs | Tax Issues for Trustees | Employing Seasonal & Casual Labour | Improving Workplace Health &...

Numbers mag autumn 2015 issuu  

Hawkins Profile | IRD Investigations | NZIPOs | Tax Issues for Trustees | Employing Seasonal & Casual Labour | Improving Workplace Health &...