Impact of new reporting requirements on local charity organisations in the Waikato

Before the new reporting requirements came into effect in April 2015, charity organisations had no reporting requirements, and many charity organisations did not prepare financial statements. The aim of this research is to investigate the impact of the new reporting requirements on charity organisations. A qualitative research method in which semi-structured interviews of three charity organisations were carried was used for this research. Each organisation interviewed falls under a different tier according to the new reporting requirements. This will provide information on the impact of new reporting requirements for charity organisations which fall under different tiers. The results of the research are that the new reporting requirements have had some positive and negative impacts. They encourage transparency, provide marketing opportunity, produce difficulties in revenue recognition, and increase costs for charities. There is also a template issue. The findings are compatible with those of the literature review, for instance, that the new reporting requirements have encouraged transparency. Furthermore, charity organisations need more guidance and training regarding the new reporting requirements so that charity organisations can overcome the issues of revenue recognition and understanding the templates

Impact of new reporting requirements on local charities in the Waikato region

This study is designed to analyse the impact of new reporting requirements on local charities in the Waikato Region. A charity can be defined as an entity that is established to provide a public benefit. In New Zealand, there are 27,000 registered charity organisations. Prior to 2013, it was not a mandatory requirement for charities to prepare financial statements. There was evidence of a lack of accountability. The Financial Reporting Act, 2013 was introduced to improve transparency in financial reporting of charities. All charities are now required to follow the accounting standards implemented by XRB (External reporting board). XRB divides the charities into four tiers which are based on volume and size of expenses. Due to new reporting requirements, it is difficult for the charities to understand the new requirements. Semi-structured interview was the method chosen for data gathering purposes in this research. Sample size for this interview was three accountants. From findings, one out of three accountants thinks that the new reporting requirements are restrictive in nature, as past reporting requirements were flexible. According to the second accountant, the reporting requirements are positive because they increase the accountability and comparability of charity organisations. All accountants of the charities commented that the new reporting requirements are complex and increased costs. In conclusion it can be said that the amendments of the new reporting requirements are challenging for some charities but these changes are designed to for improve the accountability and transparency of financial reporting of charities in New Zealand

Charities’ new non-financial reporting requirements: preparers’ insights

The purpose of this paper is to obtain insights from preparers on the new Performance Report requirements for New Zealand charities, in particular the non-financial information included in the ‘Entity Information’ section and the ‘Statement of Service Performance’ for Tier 3 and 4 charities. Semi-structured interviews were conducted with 11 interviewees, each involved with governance and reporting of one or more Tier 3 or Tier 4 charities. These interviews were analysed in terms of accountability and legitimacy objectives, which motivated the regulators to introduce the new reporting regime. Key findings are summarised under three themes. Manageability relates to perceptions and suggestions regarding implementation of the new requirements. Scepticism concerns some doubts raised by interviewees regarding the motivations for performance reports and the extent to which they will be used. Effects include concerns about potentially losing good charities and volunteers due to new requirements making their work ‘too hard’, although increased focus on outcomes creates the potential for continuous improvement. The subjectivity that is inherent in thematic analysis is acknowledged and also that multiple themes may sometimes be present in the sentences and paragraphs analysed. We acknowledge too that early viewpoints may change over time. Themes identified may assist regulators, professional bodies and support groups to respond to the views of preparers. Findings will also be of interest to parties in other jurisdictions who are considering the implementation of similar initiatives. This paper provides early insights on new reporting requirements entailing significant changes for New Zealand charities for financial periods beginning on or after April 2015. The focus is on small charities (97% of all New Zealand charities) and key aspects of the Performance Report: Entity information and the Statement of Service Performance.fals

Review of child protection mandatory reporting laws for the early childhood education and care sector

This discussion paper seeks submissions on a review of child protection mandatory reporting requirements for the early childhood education and care sector. The Queensland Law Reform Commission has released a discussion paper (WP 73) seeking submissions on its review of child protection mandatory reporting requirements for the early childhood education and care sector (the ECEC sector). The Child Protection Act 1999 (Qld) requires certain people (including doctors, nurses, teachers, certain police officers and statutory office holders) to report suspected cases of child abuse to the Department of Communities, Child Safety and Disability Services. Those mandatory reporting requirements do not apply to the ECEC sector. The review will consider whether the mandatory reporting requirements under the Act should be expanded to apply to the ECEC sector, including long day care and family day care services and kindergartens. If the Commission recommends the expansion of the mandatory reporting requirements to the ECEC sector, the Commission must also make recommendations as to which professionals, office holders or workers within that sector should be subject to those requirements. See Related Content below for questions for discussion, terms of reference, and privacy statement

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Tax and Policy Implications of Changes to Reporting Requirements for Construction Services

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Computer/PERT technique monitors actual versus allocated costs

A computer method measures the users performance in cost-type contracts utilizing the existing nasa program evaluation review technique without imposing any additional reporting requirements. progress is measured by comparing actual costs with a value of work performed in a specific period

Foreign Investment in Indonesia

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