Incorporated Societies
This page contains resources to help incorporated societies understand and apply the new reporting requirements brought in by the new Incorporated Societies Act 2022.
For any questions on your reporting requirements, contact us at accounting@xrb.govt.nz
To help incorporated societies navigate their new financial reporting requirements, we’ve brought together a roadmap of XRB guidance and resources. The roadmap shows what support is available, when it may be useful, and how the resources fit together, from identifying your reporting tier through to preparing your first set of financial statements under the new Act.
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A brief overview of the new reporting requirements, including:
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HuiE! Aotearoa and Volunteering NZ webinar, including:
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Companies Office webinar on financial reporting requirements
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If you are applying the Tier 3 (NFP) Standard for the first time, we have prepared several short guidance documents to help you understand the Standard and provide practical tips for preparing a performance report. An optional formatted template is also available to assist you in preparing a compliant performance report.
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Overview To help you understand the general requirements of the Tier 3 (NFP) Standard |
Transition
Supports societies transitioning to the Tier 3 Standard, outlining practical steps and the transitional requirements |
Revenue & expenses
Outlines key rules when recording revenue and expenses, and highlights a common revenue scenario for societies |
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Assets & liabilities
Provides practical guidance on accounting for common asset and liability types |
Watch out for...
Highlights a couple of common areas where more complex requirements may apply |
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If your incorporated society has operating payments of less than $140,000 you can apply the Tier 4 Standard. See below for more information.
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Reporting using the Tier 4 Standard |
At a glance - Incorporated Societies
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Standard |
Guidance |
Templates |
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