RSM New Zealand

Financial services

Accounting standards. Industry regulations. Ever-evolving tax rules. New legislation.

With experience of supporting the financial services community in key financial hubs, across the network, we help organisations navigate complex reporting, governance and regulatory issues to achieve their business objectives.

Accounting for Heritage Assets - why and how?

29 November 2016
Question: How do you value a church or a museum collection?

RSM New Zealand is RSM Member Firm of the Year!

31 October 2016
We are thrilled to announce that the RSM New Zealand Group were presented with the following awards at the recently held RSM International Conference held in Beijing, China: 

Anti-money laundering and countering financing of terrorism coming to an accountant, lawyer, and real estate agent near you …

4 October 2016
Combatting money laundering and financing of terrorism is an increasingly big issue internationally.  As part of the global community this also increasingly impacts New Zealand. 

Preparing cash flow statements

9 August 2016
An interesting feature of New Zealand’s new financial reporting requirements is the requirement to prepare a statement of cash flows.  Hence any general purpose financial statements required by law now need to include one of these statements. 

How much should we have in cash reserves?

28 June 2016
One of the vexed questions for boards of not-for-profit entities is what level of reserves the entity should hold as operational insurance. 

The importance of segregation of duties in preventing fraud

16 June 2016
The National Business Review (NBR) recently published an article profiling Upper Hutt College, whose former executive officer Donald Hancox plead guilty to 10 fraud charges in relation to his swindling $375,000 from the college. 

Special deals for Charities

8 June 2016
What's in a name? Well, possibly quite a lot if that name means your organisation is classified as a charity. 

Democracy - Yours to ignore!

27 April 2016
We are incredibly fortunate to live in a beautiful, wealthy, safe, first world country.  We also live in a democracy with an excellent system of law that allows us to participate in civil society.  Every one of us has the ability to have a real say in our country's future - if we choose to exercise that right.

How to write a great statement of service performance report

7 April 2016
A key part of the new performance reports required of charities and other entities adopting the XRB’s PBE accounting standards is the requirement to present a statement of service performance report.  So how does an organisation write a great one?  Background

Newsletter for Schools

23 March 2016
School sector reviews happening in 2016 We appreciate that various reviews are often happening in schools in New Zealand but we think two of these underway in 2016 have potential to be quite significant longer term. 1.     Review of the Education Act 1989

The Purpose of your Incorporated Society - Can it make money? And who can take it home?

16 February 2016
One of the interesting clarifications under the proposed Incorporated Societies Bill relates to money making activities undertaken by societies and member's access to monies or assets of the incorporated society.

Incorporated Societies Bill - Timeline? And do we have to act now?

9 February 2016
As we've highlighted previously the Incorporated Societies Act 1908 is up for an overhaul.  The Ministry of Business, Innovation & Employment (MBIE) released their Exposure Draft of the Incorporated Societies Bill in November 2015.  So what is the timeline from here?

Consolidations – an accounting or a strategic issue?

26 January 2016
We’ve previously advised that consolidations of entities for accounting purposes is likely to be one of the more challenging aspects of complying with the new mandatory accounting standards.  While the accounting concept and mechanics need working through, it is perhaps more important and possibly more beneficial to consider this issu

Fraud | Financial Whaling Scam

20 January 2016
Whaling, a take on the term 'phishing' targets high-level executives, using email addresses similar to employee addresses, to make it appear as though they're requesting the funds.

A Snapshot of the NZ Charities Sector & DIA Charities Services

16 December 2015
If you haven't seen the infographic below, it is well worth a look.  This infographic was pulled together by DIA Charities Services for their AGM this year and provides an interesting summary insight into the sector.

Incorporated Societies Bill - Proposed Accounting & Audit Requirements

14 December 2015
As previously advised the proposed overhaul of our Incorporated Societies legislation has now been released for public consultation in New Zealand.  [Involved in an Incorporated Society?

Resident Director Rule Now in Force

11 November 2015
As we reported previously the Companies Amendment Act 2014 (‘the Act’) became effective from 1 May 2015.  As highlighted to you in an earlier publication, a significant change as a result of this new legislation, is the requirement for all companies registered in New Zealand to have at least one New Zealand resident director.

Transparency for Charities | A double-edged sword

8 September 2015
A culture of increased transparency – Welcome to the new world for charities.  However this could also be known as ‘the outing of charities in the press.’  Is your charity prepared? Heard about charities in the media lately?

New charity financial reporting and audit requirements | An opportunity for alignment?

20 August 2015
The biggest change in financial reporting in 20 years, and for many charities; the biggest change to their financial reporting ever, has recently been legislated. We look at the opportunities this presents for the entities themselves as well as for funders and stakeholders. Background

How's your governance team?

30 July 2015
Getting your governance team right can be the key to extraordinary success in any organisation.  NFPs and charities have some unique features in this regard.  To really succeed they also need to heed governance best practice. 

RSM Auditors achieve Qualified Auditor status

23 July 2015
The New Zealand Government has introduced a new requirement where auditors of entities required by legislation to be audited (i.e. they have a statutory audit requirement) now need to be recognised as being qualified to undertake such engagements.

Is membership dead or dying?

30 June 2015
Are you involved in an incorporated society? Is your incorporated society struggling to attract and retain members?  Are you noticing that many people now just seem to want a more casual involvement?

Mandatory performance reporting for charities

28 April 2015
Out with annual financial reports and in with the more comprehensive performance reports.  Why this mandatory change for registered charities and what does it mean?

The passion conundrum in the NFP/charitable sector

7 April 2015
Passion is an essential requirement for success. But can there be too much passion? Is passion sometimes actually a handbrake on success?

Are you a New Zealand Incorporated Society?

14 March 2015
New Zealand company legislation has, and is continuing to undergo some quite dramatic changes of late.  The latest changes come in the form of the Companies Amendment Act (No 4) 2014 which introduces a number of new requirements for New Zealand companies. 

Demystifying donee status

6 March 2015
Donee status.  Most people will have heard of this concept in relation to charities.  But scratch the surface a bit deeper and one commonly finds a lack of any further knowledge, and some common misunderstandings.  Hence we thought it would be helpful to provide a summary of some key features of donee status.

I've seen the future | And I like it!

25 January 2015
Over the next few years annual financial reporting is changing for charities and not-for-profit entities in New Zealand. This means different requirements, and given that change is generally painful at first; will it be worth it? And what result can we expect for most?

Risk in charities and Not-For-Profits

14 January 2015
Risk in any organisation is a big issue, albeit one that gets vastly differing levels of attention in New Zealand charities and Not-For-Profit entities (NFPs). From a fundraising perspective risk is often just viewed as the potential for loss of funding streams, however it is much more than that.