It’s that’s time of year again! With the end of the financial year and standard balance date (31st March) fast approaching, we’ll begin to prepare the financial reports and tax returns for you, our clients.
The Companies Act and the Financial Reporting Act 2013 cover your legal obligations in terms of financial reporting. These obligations vary depending on the size of your business. The size of your business entity is determined by taking into account your revenue, expenses and assets.
If you are a small or medium sized business your obligation is to produce accounts that meet the IRD’s minimum financial reporting requirements. Larger businesses and those issuing debt or equity securities, are required to prepare financial statements to a higher standard of accounting, these are mandated by the External Reporting Board (XRB).
If you’re unsure about your obligations, please contact us. If you’re a current client we have you covered and know exactly what needs to be prepared for your business.
Many of you will need to comply within the minimum financial reporting requirements. These are detailed on the IRD website.
- If you think the “minimum” looks pretty maxed out, then rest assured that we take care of the details for you, as a current Johnston Associates South client please complete our 2016 Client Questionnaire to allow us to begin working on your financial statements.
- If you are not a current Johnston Associates South client, please contact us to find out how we can make things simpler for you.