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Incorporated Societies

Accounting

Financial Reporting for Incorporated Societies

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…

By NFP Editor, 4 months8 September 2022 ago
Accounting

Incorporated Societies – Financial Reporting

“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…

By NFP Editor, 5 months15 August 2022 ago
Incorporated Societies

Incorporated Societies Act 2022 (updated post)

The new Incorporated Societies Act 2022

By NFP Editor, 8 months2 May 2022 ago
Governance

Incorporated Societies Bill – update

Updated 6 April 2022 The Incorporated Societies Act 2022 received Royal Assent on 5 April 2022 and came into force on 6 April.  See this post   SEE ALSO THE FOLLOWING POSTS ON THIS SITE: What is the difference between a Charitable Trust and an Incorporated Society? Annual Returns for Read more…

By NFP Editor, 10 months21 March 2022 ago
Administration

FAQ – Do we need to have our accounts audited?

Incorporated Societies The Registrar of Incorporated Societies does not require that the financial statements of Incorporated Societies  or Charitable Trusts are audited or reviewed. However, the organisation’s rules may require an auditor or reviewer to be appointed.  Many societies and trusts find the cost of auditing (or even of reviewing Read more…

By NFP Editor, 1 year22 August 2021 ago
Charities Act 2005

Reviews of the Charities and the Incorporated Societies Legislation

Dave Henderson and Sue Barker have been heavily involved in following proposed changes to the legislation on Charities and Incorporated Societies, keeping the sector updated, and being involved in discussions with government ministers and officials. At the end of February we received an update from them. With permission, and without Read more…

By NFP Editor, 3 years5 March 2020 ago
Incorporated Societies

Revision of Incorporated Societies Act 1908 – updated

As previously commented, the Review of the Incorporated Societies Act – commenced in 2012 – is moving glacially through the parliamentary/government process. At the start of May, the Minister of Commerce and Consumer Affairs presented a paper to Cabinet which comments on the various submissions and proposals in respect of Read more…

By NFP Editor, 4 years25 June 2019 ago
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