Showing posts under "Audit"

Recognising Broker Commissions

Dated: April 19, 2018

Mortgage Brokers and Insurance Brokers are likely to see significant changes in their revenue recognition when IFRS 15 Revenue from Contracts with Customers is adopted. The 5 Step Revenue Model requires an entity to identify the performance obligations in a contract.  In simple terms, what service is the Broker actually providing to the customer? WhereContinue reading 

Surprise! It’s the IRD!

Dated: October 27, 2017

IRD will occasionally visit workplaces. Whether it is a building site or an office, there are certain practices that may assist you in any later dispute. The first is to limit IRD’s access as much as you can. Provide IRD with a meeting room or other segregated space to which you can bring them requestedContinue reading 

Attributes Required for Directors

Dated: October 9, 2017

As a member of a board, and an Auditor Partner who attends numerous company board meetings as an observer, I am often asked what attributes to look for when selecting a board member. There is no simple answer, and no “one size fits all” for entities. Each organisation needs to understand and assess the skills,Continue reading 

Getting ready for the auditors

Dated: April 12, 2017

The annual external audit of your entity’s financial statements does not need to be a stressful affair for staff and management. Good planning and execution, as well as effective project management can make the audit process a smooth and efficient experience for you and your auditors.  Ultimately, ongoing and timely communication between the entity andContinue reading 

Service performance reporting for charities

Dated: January 22, 2017

Background – impetus for service performance reporting There are approximately 28,000 registered in NZ (one of the highest ratios per capita in the world). These charities are managing over $50 billion in assets and have a combined income of approximately $17 billion. A key question that has arisen with policymakers is how do stakeholders (funders,Continue reading 

Changes are in the wind for incorporated societies

Dated: November 25, 2016

In late 2015 the Government issued an exposure draft of the Incorporated Societies Bill (the Bill) for submissions from the public. The Bill has been issued with a view to bringing the existing Incorporated Societies Act 1908, into the 21st century. Submissions on the exposure draft closed on 30 June 2016. To understand more aboutContinue reading 

Data in the cloud – undoubted benefits but what about the risks?

Dated: October 5, 2016

Cloud computing has revolutionised the way in which IT products and services are being provided to customers, moving users away from the traditional software licensing models and premises-based data centres to ‘pay-as-you-go’ or utility-based pricing. The implementation of cloud computing technologies has seen real benefits being achieved by customers including: Reduced capital spend cost –Continue reading