The External Reporting Board (XRB) is the Independent Crown Entity responsible for setting external reporting standards. In the latest news and information bulletin (September 2022) XRB advises: “The new Incorporated Societies Act 2022 has changed how incorporated societies need to report. The Act requires all but the smallest societies to Read more…
“The Incorporated Societies Act 2022 that was passed in April this year brings about many changes to how societies operate. One of the areas of change is how societies prepare their financial statements. From October 2023, once a society re-registers, it will have to start using External Reporting Board (XRB) Read more…
Recommendations from the recent Charities Act Review could mean registered charities with operating expenses over $140,000 per year will be required to disclose information about the reserves they hold,
We have frequently been called upon to assist small charities who are struggling with the complexity of the XRB reporting format required to comply with the DIA Charities Annual Report. A Tier 4 charity is one which: has annual operating payments under $125,000 has no public accountability uses cash based Read more…