RSM New Zealand

Craig Fisher
Consultant

Biography

Craig is a Consultant with RSM specialising in governance, audit and assurance advice, and assisting with restructuring, growing, and developing organisations.  Up until December 2018 he was one of six Audit Partners and was the former Chairman of the RSM New Zealand group.  The RSM New Zealand group tripled in size under Craig’s Chairmanship. Craig has over 28 years of public accountancy experience.

Craig initially joined a 'Big 8' international accountancy firm before spending time working in London and Japan. Craig returned to New Zealand and joined Bowden, Impey & Sage where he was appointed audit partner in 1996.  With a strong interest in management and governance, Craig was a key driver in creating Hayes Knight in New Zealand via a merging of firms in 2001.  Craig then chaired and led the management team of this firm until the restructure to RSM in 2015. 

Craig has a significant interest and recognised expertise in not-for-profit and charitable organisations.  He also has considerable audit and assurance experience across a wide variety of clients including commercial clients such as listed companies and issuers, and public sector entities.

Craig’s experience has seen him provide external audit, assurance, and risk management and governance advice across a diverse range of sectors.  He also has experience with high growth organisations and pragmatically assisting clients through the challenges of change and restructures.

Audit and assurance standard setting

Passionate about New Zealand and best practice Craig has a distinguished history involved in national audit and assurance standard setting.  Craig chaired the Professional Standards Board of the New Zealand Institute of Chartered Accountants (currently CA ANZ) for eight years.  This New Zealand board was responsible for all ethical and professional standards other than the Financial Reporting Standards.  Significantly, Craig led the board through the introduction of International Standards on Auditing into New Zealand.  In this capacity Craig has represented New Zealand in International Assurance Standard Setting matters at International Audit & Assurance Standards Board advisory meetings.

Craig was also appointed by the Minister of Commerce to being a member of the Trans-Tasman Accounting & Audit Standards Advisory Group for two years.

Since its inception in 2011 Craig has been appointed by the New Zealand Government to the NZ Auditing and Assurance Standards Board (NZAuASB) one of the two sub-boards of the External Reporting Board (XRB).  This demonstrates his, and RSM’s desire to remain at the forefront of audit developments and “best practice”, as well as corporate governance matters both nationally and internationally.

A passionate presenter, Craig is involved with many speaking and training opportunities – both for RSM as well as a wide variety of other organisations such as CA ANZ, Governance New Zealand, LegalWise, the New Zealand Law Society amongst others.  

Qualifications

Craig graduated from the University of Auckland with a Bachelor of Commerce, and has been a member of the New Zealand Institute of Chartered Accountants (currently CA ANZ) for over 25 years.  Craig has held a certificate of Public Practice  since 1996.

​Craig is a CA ANZ NFP Special Interest Group Committee member, a member of the Institute of Directors, and also a School of Accountancy Advisory Board member for Massey University

Craig is a member of the CA ANZ Charities and NFP Advisory Committee.

Awards

Craig is a Fellow Chartered Accountant and was awarded his Fellowship for his services to the profession in 2007 by the New Zealand Institute of Chartered Accountants (NZICA). Craig is a regular contributor to industry publications and regular presenter of accounting, audit, risk and governance related seminars nationwide.   Craig excels at making the technical understandable.

Personal

Craig is the chairman of the Fred Hollows Foundation and has been a Board member for this worthy cause since 2011. He is a trustee of Sustainable Coastlines Charitable Trust and an ADLS Council Member - ADLS is an independent membership organisation representing the New Zealand legal profession. It is renowned for its programmes for fostering collegiality, thought leadership and professional development, for the advancement of the profession. He is also a Be. Accessible Fab 50 member.

Craig is married to Anna and has two sons.  With his family, Craig believes in living life to the full with a keen interest in running, surfing, paddle boarding, tramping, cycling, kayaking, badminton, and skiing.  He is also known to enjoy the company of interesting people, good wine, watching rugby, reading, music, movies, theatre, art and travel.

News articles

Should governing bodies of charities and NFPs be paid?

15 March 2019
  Recently being asked to complete (yet another) survey got me pondering on this tricky question.  This survey was from a reputable specialist remuneration consultancy seeking to gain an understanding of how many New Zealand NFPs and charities were paying their governing bodies.  Being someone on a variety of boards this got m...

Incorporated Societies Bill - Timeline?  The 2019 Update...

21 February 2019
Apologies to followers of our updates regarding the important review of the incorporated societies legislation in New Zealand - we are beginning to feel like the boy in the fable of The boy who cried wolf!   We first wrote of this sensible and overdue update of our 1908 legislation back in early 2015.    Since then we hav...

Charities Act Review - Community meetings

5 February 2019
  An opportunity to hear about the review of the Charities Act 2005 and have your say. The Department of Internal Affairs has announced the dates and locations of community meetings for the Charities Act review as part of their consultation with the public.  These meetings will occur in 21 locations around Aotearoa between 6 Mar...

What’s your impact? Trends & Opportunities

6 November 2018
For any organisation to be sustainable and to thrive it is always important to read the winds of change.  By keeping an open eye to changes, one can better identify threats and opportunities.  A wind of change we have observed in recent times is a significant increase in interest in impact reporting.   Becoming great at this...

Incorporated Societies & Governance - An Australian Survey

4 September 2018
Australia, like New Zealand has a lot of incorporated societies.  We are both nations that by and large appreciate the concepts of free association and civil society.  A recent annual survey by the Associations Forum in Australia into association boards and their governance highlights some interesting observations and lessons for New ...

Codes of Ethics & Codes of Conduct

30 July 2018
We appreciate we have probably run the risk of losing most readers at the title, such are the excitement levels normally generated by Codes of Ethics or Codes of Conduct.  But bear with us! Ethics is actually a fascinating topic.  Especially when you are presented with an instance of an absence of ethics!   Some people have the...

Five reasons not to set up an NFP

23 July 2018
As seen in Acuity Magazine. Are there too many charities in NZ and Australia? No matter how well-meaning, setting up a new entity in a crowded market can have many unseen pitfalls, warns charities expert Craig Fisher. Are there too many charities in Australia and New Zealand? With more than 27,000 registered charities in New Zealand and aroun...

Sustainability and Strategy – What lens to use? 可持续及战略发展 – 多角度探讨

11 June 2018
可持续发展对于任何组织来说都至关重要,也是监管层的首要任务。然而,许多组织在制定相应策略时的想法和方式都已经过时了。本文将多角度探讨您的组织在大环境中如何做到可持续运营。 许多组织面临着源于变革的日益严峻的挑战。这种变革来自技术、新...

Sustainability and Strategy in Organisations – What lens to use?

24 May 2018
Any organisation should be concerned about its sustainability.  This is a core role of governance.  Yet many organisations when setting strategy do so using outdated thinking and approaches.  This article looks at some possible lenses through which to view your organisation in the context of the wider environment in which it operates...

Charity Law, Accounting & Regulation – exploring the big issues in the charitable sector

11 May 2018
  The first ever New Zealand Charity Law, Accounting and Regulation focused conference was recently held at Te Papa in Wellington. It was a resounding success, and RSM is proud to have played our part.   A first ever conference of its kind was held in New Zealand at the end of April with more than 200 attending the event at T...

Insights from the Fraud Film Festival

14 March 2018
The fantastic Auckland Theatre Company’s ASB Waterfront Theatre on Auckland’s viaduct was recently host to Auckland’s 2nd Fraud Film Festival.  This presented a fascinating array of films on the topic of fraud.  This article looks at some of the insights gleaned. Fraud is fascinating.  It cuts to the heart of some sad and dark a...

Costs of Administration - How much is too much?

9 March 2018
Increasingly some charities and not-for-profit organisations are becoming concerned about their level of admin costs.  So what is an acceptable level of admin costs?  Is there a magic number or percentage? The past few years has seen a huge sector-wide increase in the availability and visibility of not-for-profit and charitable entity ...

Cyber Series | GDPR: What it is and what New Zealand entities need to consider

23 February 2018
The General Data Protection Regulation (GDPR), is coming into force on 25 May 2018 and will fundamentally change the way that businesses access, store and use personal data.  While this is European Union legislation its reach will be felt internationally including here in New Zealand. Privacy regulations in the European Union (EU) have long...

Issues On Your Radar in 2018

16 January 2018
It’s the start of another year - 2018! 365 days of promise for your team and organisation to build on your progress to date, to take things to the next level, to maybe do some things differently and modify, change tack and try some different directions and initiatives .  With any planning though it is important to look at ...

Charity vs New Philanthropy

17 October 2017
A recent report on philanthropy focuses the mind on current techniques for giving and making a difference.  This article looks at some of the key findings and implications for funders as well as Charities and NFPs in New Zealand.  When I was growing up and learnt the word “charity”, I understood it meant giving alms to the poor.&nb...

RSM World Day 2017

19 September 2017
A day when the independent member firms of the RSM network celebrate our shared values of Understanding, Collaboration and Ideas and Insight – this year, with an innovative twist. September marks ‘Innovation month’ internationally across all RSM member firms, in line with this, RSM New Zealand took the opportunity to mark our global day by...

Charity and the language we use…

12 September 2017
What’s in a word or a phrase?  Well sometimes a lot.  Whether we appreciate it or not much of the language we use carries considerable extra weight and meaning due to history, perceptions, and baggage connected with it.    I was fortunate a while back to attend a seminar by Vicki Sykes on the topic of Business acquisition i...

RSM sponsors the LPGA New Zealand Tour

29 August 2017
Audit, tax and consulting specialists RSM New Zealand have joined the family of sponsors to support next month’s MCKAYSON New Zealand Women’s Open. The event, New Zealand’s richest golf tournament with NZ$1.85 million in prizemoney, will be staged at the new Windross Farm golf course in Auckland from 28 September to 1 October and will ...

Stakeholder Mapping & Strategy

15 August 2017
A clear understanding of who you interact with and why is key to successful organisations and the effectiveness of their ongoing strategy. Every organisation deals with others.  In order to successfully do whatever it is that the organisation does it will interact, to varying degrees, with a wide range of related parties or "stakeholder...

Revisions to the proposed Service Performance Standard

26 July 2017
The New Zealand accounting standard setter is in the process of developing a service performance accounting standard for Public Benefit Entities.  In mid-2016 they issued their first cut of a proposed accounting standard seeking feedback.  Based on this exposure draft feedback they have made some fairly significant changes to their propos...

Are you busy?

25 July 2017
Are you busy doing the right stuff, or just doing stuff? We’ve all been there; ask someone how they are and we usually get a response about how busy they are.  Similar to the clichés about talking about the weather, it’s almost become a standard response to complain how busy one is and to give examples of this.  “I’m ...

Foundations & Endowment Funds

6 July 2017
So you are thinking about establishing a Foundation or an Endowment Fund.  This article takes a look at some of the reasons why, what these terms mean, what’s involved in establishing and operating, some pros and cons, and some other things to think about. You may be an existing charity looking to do more and wanting to enhance the lo...

PBE Accounting Standards Adoption –The good, the bad, and the ugly

29 May 2017
New Zealand is now two years into our new accounting framework for Public Benefit Entities being applicable.  So how has it gone?  What has the experience been to date?  What can we learn from the adoption so far? 1 April 2015 was a revolutionary date in New Zealand as that was when our new PBE Accounting Standards took effect...

The Value of Reporting Bad News

23 May 2017
I've been pondering bad news of late. Not I thankfully hasten to add due to anything out of the ordinary happening in my life or of those near to me.  But rather mainly due to an identical sentiment expressed to me recently past by two separate funders who I respect greatly. The sentiment in question was: "Funders want to see failu...

Bouquets, brickbats, and making your financial statements more beautiful?

3 May 2017
So, you are a small to medium size charity, (Tier 3 or 4 PBE) and you have transitioned to the new simple format reporting.  For most, it was no doubt a bit of a strain as it was a change from what you have done before; but you have followed the optional templates provided by the External Reporting Board (XRB) and got there.  Well ...

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

12 April 2017
Just over a year ago we wrote an article on the progress and timeline of the proposed overhaul of incorporated societies legislation in New Zealand.  So where is this at now and what do incorporated societies need to do? As we have highlighted previously the Incorporated Societies Act 1908 is up for an overhaul.  The Ministry of...

How are Charities going with the New Accounting Requirements?

23 March 2017
And what do we want and expect of a regulator in the sector?  I was prompted to think about these questions by some recent media.   The first was hearing on National Radio that DIA Charities Services, our New Zealand charities regulator, talking about the percentage of charities that have complied with the new accoun...

The 2017 economic environment in New Zealand

6 March 2017
The political and economic climate of any country has a direct impact on all our lives, and on just about all aspects of our lives.    Sadly I am not aware of anyone precisely working out the magic formula for how to accurately "read the tea leaves".  But no matter what, it is worth pondering our current situation in New ...

What’s your plan for next year?

6 December 2016
It’s nearly the end of another year (Wow!  How did that happen so fast??).  As such, it is a useful time to pause and think about what you want to achieve with your organisation next year.  That bright opportunity to do things differently, to build on the progress to date, to take things to the next level, and maybe to modif...

Phishing and whaling – Don’t get hooked!

19 October 2016
With cyber-attacks on organisations on the increase one of the most common attack techniques we are seeing at present continues to be phishing and whaling attacks.  So what are these?  And more importantly; what can you do to stay safe? Another week and another article in the news media of an organisation fooled in transferring mon...

A guide for NFP financial reporting in New Zealand

16 October 2016
Download below the CA ANZ guidance brochure for NFP financial reporting in New Zealand. Guidance for NFP financial reporting in New Zealand ...

A resource page for charities

11 October 2016
Registered Charities We know many Chartered Accountants do a lot of pro-bono and low bono work for charities. This work brings great value to our communities and we fully support this. It is important that you know about the new requirements for charities, and we want to ensure you have the information you need. Therefore we have developed...

A webinar on the new Charity Financial Reporting Standards

9 October 2016
This is a recorded webinar. Once you have registered you will receive a confirmation email containing login details to your purchase. You will have from the date of purchase until the 1st July 2017 to view this session. If you still require access after this point in time, please email cpd@charteredaccountantsanz.com Up until now,...

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.  Accordingly, our Ministry of Justice is proposing to implement phase two of the Anti-Money Laundering and Countering Financing of Terrorism Act regime.&nb...

RSM gives back to the community

22 September 2016
RSM World Day : A day when the independent member firms of the RSM network unite and engage with national, or local, charities through volunteering and community work and other charitable giving activities "The best time to plant a tree is 20 years ago.  The second best time is now." RSM in New Zealand celebrated by supporting Ngāti...

Congratulations to the New Zealand Paralympians and Paralympics New Zealand!

20 September 2016
RSM heartily congratulates audit client Paralympics New Zealand and the entire New Zealand Paralympics Games team on their incredible results at the Rio 2016 Paralympics.  The 31-strong New Zealand Paralympic team beat their pre-Games medal target of 18 by three medals, winning a total of 21 (9 gold, 5 silver, 7 bronze). The only time ...

Not-for-Profit Special Interest Group Meeting 27 September 2016

20 September 2016
The Chartered Accountants NFP SIG aims to focus on issues specific to the sector - this breakfast meeting provides ample opportunity to network with others in this sector and to share experiences and ideas. In this upcoming meeting Vicki Sykes will pre...

Paralympics New Zealand Spirit of Gold initiative wins 2016 TVNZ Marketing Award

6 September 2016
RSM congratulates audit client Paralympics New Zealand who received top honours in the Not-for-Profit category at the 2016 TVNZ New Zealand Marketing Awards, New Zealand's most prestigious national industry awards. The win recognised the success of the Spirit of Gold® Initiative over the past year. PNZ is in the final run up to the Op...

Service Performance Reporting by Charities - Compliance burden or a fantastic opportunity?

27 August 2016
So you have to do something you’ve not had to do before.  And even worse it’s mandatory.  Hence if you don’t do it you are now officially breaking the law.  The normal human reaction is to groan, often followed quickly by complaining bitterly to the nearest available person.  You rail against the unfairness of it al...

New Review Engagement standards

2 August 2016
Review engagements are a lesser level assurance alternative to audits as a form of independent assurance over financial statements.  New review standards were issued in New Zealand and took from 2014.   Way back in the last century (1998 to be precise) I first burst into print extolling the virtues of review engagements.  My m...

Understanding audit report qualifications - completeness of revenue

26 July 2016
Many not-for-profit organisations obtain independent audits of their annual financial statements.  These may be required by their governing rules, terms of their funding, legislation, or just due to a concern for good governance. However, compared to for-profit entities, audit reports of not-for-profit entities are much more commonly qu...

Do we have to write a statement of service performance yet?

21 July 2016
Question:  We would be considered a medium to large registered charity.  We are aware of the changes in financial reporting requirements taking effect this year but are confused regarding these new statements of service performance.  Do we have to prepare one this year?  Help!!! Short Answer: No.  If you are ...

Understanding audit report qualifications

19 July 2016
In an earlier article we looked at overcoming some of the misconceptions surrounding audits and introduced the most visible summary of an auditor’s work: the audit report.  While a standard format exists, audit reports can also contain many differences.  But what are these differences, what causes them and what are the implicatio...

An audit by any other name

12 July 2016
The word audit means many different things to different people. As expert financial statement audit and assurance providers who work in full compliance with the International Standards on Auditing and other professional requirements we have a clear understanding of what is involved in an audit and the implications.  However, we are awar...

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.  For many entities this issue is one that has been getting a fair bit of airtime in audit committees and governing body meetings.   So what should a prudent organisation do? Tomorrow vs...

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.  Recent times have seen what appears to be a growing number of commercial organisations kindly recognising the value that charities provide by offering their commercial goods or services at discounted prices to charitable organi...

Key Management Personnel disclosure for charities

1 June 2016
One of the financial reporting changes that now impacts a large proportion of charities is a mandatory requirement to disclose information regarding remuneration of key management personnel.   We are aware that this new disclosure requirement may initially engender sensitivities in some organisations.  Here we look at what disclosu...

Governance | Core functions of a governing body

12 May 2016
Good governance can make or break an organisation.  Or perhaps more commonly; it is a key factor in whether the organisation truly thrives and achieves its purpose, or alternatively just struggles on painfully, producing a mediocre result at best.  Further to our previous writing on the topic of good governance (see previous articl...

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. Yet perhaps precisely...

Is your charity ready to comply with the new accounting standards?

21 April 2016
Effective 1 April 2016 New Zealand’s charities regulator has a new role – monitoring and checking compliance with the new mandatory financial reporting standards.  So how is the DIA Charities Services likely to approach this? The background to the changes As we have previously written; our charitable sector in New Zealand consist...

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 The mandatory requirement for registered charities to adopt the Exte...

Governance 101

5 April 2016
At RSM we love to share good ideas, innovation, and helpful resources. The team at Sport NZ are in our view leaders in providing useful information and educational material to sports organisations. However much of this good information equally translates to valuable resources for the wider NFP/Charitable sector. Governance 101 is one of thei...

Merger Delivers Growth for RSM in New Zealand

1 April 2016
The merger of chartered accounting firms RSM and Nexia New Zealand’s Auckland operations will deliver a stronger, mid-market offering in accounting and business solutions. Both parties see the advantage of building the RSM network in New Zealand, to deliver to the local market and via the RSM Network to our internationally active clien...

Risk in Charities and NFPs

30 March 2016
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. We also have new legislation taking eff...

New Trends in Financial Reporting – Integrated Reporting

24 March 2016
In an earlier article we have previously written about new trends influencing financial reporting including the concept of Integrated Reporting.  Some of us were fortunate enough to hear the CEO of the International Integrated Reporting Council, Paul Druckman, and some New Zealand experts speak on this topic in New Zealand l...

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 A revolutionary piece of legislation in its day. Resulted in funda...

Charitable Entities raising money from Investors

14 March 2016
Many charities and not-for-profit entities want to explore different forms of funding.  We are also increasingly seeing a blurring of the lines between charitable entities and commercial entities.  Examples include the rise of such concepts as social enterprise, impact investing, & integrated reporting to name a few. This artic...

Budgets – Your guide to a perfect(?) one

29 February 2016
Budgets are important.  Done well they help people and organisations plan their future, monitor their progress towards it, and achieve their goals.  Hence creating a good budget for your organisation is a key skill and tool in your creating the future you want and hopefully sustainable success. We are not sure that a perfect budget...

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. Sadly there have been some past examples of bad behaviour in this area.  The frustrating aspect of this is that the behaviour...

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?  And what do incorporated societies have to do and when? ...

Donated Goods Amendment Issued

2 February 2016
We've previously written on the topic of Opportunity Shops and the potential practical problem created by the new accounting standards and how these require accounting for donated goods.   We are now pleased to provide an update. Being an occasional contributor to and purchaser from Op shops (including being the proud owner of a co...

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 issue fro...

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. charities-services-2014-2015-summary.pdf We would also like to pass on a bouquet to DIA Charities Services for the use...

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? Big changes coming!] Hence if you are in any way involved in an incorporated society now is the time to start to understand the implications, and then exerc...

Involved in an Incorporated Society?  Big changes coming!

16 November 2015
As we’ve previously advised and written on; a significant overhaul of New Zealand’s Incorporated Societies legislation is currently underway.  If you are involved in one of New Zealand’s estimated 23,000+ incorporated societies then this will impact you.  The changes for some incorporated societies will be significant and all...

Social Impact Investing

30 October 2015
Is it the new Holy Grail for the charitable/NFP sector?  Or just a theoretical concept and lot of hot air?  We look at this new area of funding in the charitable/NFP sector and some words of wisdom from a recent visiting UK expert and explorer in this area; David Carrington. David was brought to New Zealand to share his knowledge b...

Useful Resource for Larger Charities

30 October 2015
If you are involved in a larger charity then the attached link to a suite of Frequently Asked Questions may be of use to you.  These FAQs relate to Tier 1 & 2 charities and are a result of common questions raised at the recent seminars run by DIA Charities Services and the XRB with specialist sector input from RSM....

RSM - a new unified brand

27 October 2015
What’s in a name? Flags, brands, and banners we operate under as organisations.  Are they important?  They’re the labels we choose to define and present ourselves to the world.  To define who we are and what we stand for.  So should one change? From October 26, 2015 we have simplified and changed our branding.&nb...

RSM - The Gauntlet

26 October 2015
A new broadcast advertising campaign launched in the US. The Gauntlet is running on television networks including CNBC, CNN and Bloomberg TV, in both 30 and 60 second slots. The campaign also includes print ads, running in publications including The Wall Street Journal, CFO magazine and regional business journals, as well as ...

PBES: Which Tier should we report in?

1 October 2015
Now that the transition to the new Public Benefit Entity (PBE) accounting standards is fast becoming a reality some organisations are thinking about which tier they should be in. While the legislation and the accounting standards framework specify minimum requirements there is also choice for entities to opt up to other tiers should they wish to....

New Trends in Financial Reporting

15 September 2015
Financial reporting is not a static discipline.  It changes and evolves in response to new legislation, requirements of regulators and changes in accounting standards, as well as various other demands from other stakeholder groups and new initiatives.  This article looks at some of the recent developments that are influencing finan...

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? You may have read about Destiny Church in the Sunday papers, seen a documentary or two on the Glori...

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 The financial reporting reform enacted in 2013 has her...

Opportunity Shops | New accounting standards a problem and a pragmatic solution

18 August 2015
Registered charities are now starting to grapple with new accounting standards. For some this means changes in accounting treatment and for larger entities the required treatment may be more complex. We look at an issue that has arisen with the application of the new revenue standard in relation to donated goods and opportunity shops and a gr...

Groups and consolidations | New financial reporting standard challenges for charities

15 August 2015
Control is a very important concept when it comes to financial reporting. If registered charities are in a control relationship, the controlling entity will have to prepare consolidated financial statements, consolidating the financial information of their entity with the financial information of all the entities they control. ...

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.  We look at some key issues, key challenges and tips to assist your governance team to be an enduring ...

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. The new rules take effect for accounting periods beginning 1 July 2015. These ne...

Who holds the keys to change?

14 July 2015
Getting change to occur in any organisation is difficult. Often it seems even more so in the NFP/charity sector. We explore some of the reasons why and seek to answer the question; “Who holds the most effective keys to facilitating change.” Background We all know the truism that “change is constant”.  And it is.  However...

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? If so it is likely that these issues will be starting to impact the future sustainability of your incorporated society.  It appears t...

Please don't set up a new NFP entity!

10 June 2015
Are there too many entities in our Not for Profit sector?  At over 100,000 for a small country like New Zealand with a population of under 4.5m many people think so.  Yet why is it so common that one hears the discussion about setting up another new legal entity? It happened again today.  A meeting with a NFP client, their org...

Fewer, deeper, longer | A philanthropic funding trend

26 May 2015
Back in early 2013 we wrote an article on an emerging philanthropic funding trend which we called Fewer, Deeper, Longer.  Fast forward to 2015 and this trend is even more applicable with the concept also being picked up by some Government funding agencies. Hence we thought it was worth an update. Many charities and other organisations i...

Anti- Money Laundering Legislation | Are you caught?

3 May 2015
Legislation to combat money laundering and the financing of terrorism took effect in New Zealand from 30 June 2013. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009, a mouthful referred to as the AML/CFT Act by most users, is significant legislation that imposes requirements on many different types of entities.  ...

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? I was away tramping in the lovely South Island with a friend recently and amongst our 8 hour walking days through some demanding but fantastic country we got to talking abou...

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? Passion is a key element of many a successful venture. It’s often that secret ingredient needed to overcome seemingly insurmountable hurdles. Look behind any successful venture, whether in the commercial...

Incorporated societies act | Time for an overhaul

27 March 2015
In 2013 The Law Commission released their report on their comprehensive review of theIncorporated Societies Act…and a sensible well considered report it is too!   We look at what this is likely to mean in summary for New Zealand’s 23,000 + Incorporated Societies. Law Commission review of the Act The Incorporated Societies Ac...

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. What is it? ...

Impact of New Zealand's financial reporting changes

25 February 2015
There has been huge change in financial reporting legislation in New Zealand in recent years. A direct result is different financial reporting and assurance requirements for different types of entities going forward. Hence it is useful to consider the new landscape in terms of how many entities have to do what in future. The past, the pre...

Your organisation is at risk from fraud!

14 February 2015
Hopefully that headline gets your attention. Sadly in our experience as auditors this statement is true. We are yet to find the perfectly protected organisation when it comes to fraud risk. However there are some basic things any organisation can do to help protect itself. This article looks at some expensive fraud lessons that other organis...

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? Sometimes in life we are lucky enough to get sneak previews of the future...

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. The focus on risk generally will probably nee...
Publications

Service Performance Standard Issued for larger PBEs

14 February 2018
New Zealand now has an accounting standard for service performance reporting for Tier 1 & 2 Public Benefit Entities. This article looks at the rationale for this important reporting standard, what it requires, when it is mandatory, as well as some observations regarding adoption and best practice reporting.  Background S...
Tweets
Events

Past Event | CAANZ 2015 Audit Conference

Thursday 3 December 2015
On Thursday 3 December, Chartered Accountants Australia and New Zealand (CAANZ) will hold the 2015 Audit Conference at the SKYCITY Auckland Convention Centre. The 2015 Audit Conference is the pinnacle forum for audit professionals from across the country to share knowledge and insights while enhancing audit capabilities.  Experienced s...

Past Event | CAANZ | Forensic Accounting SIG

Thursday 8 October 2015
On Thursday 8 October, Chartered Accountants Australia and New Zealand (CAANZ) heldthe Forensic Accounting Special Interest Group meeting at the Auckland Conference Centre. Presentations were given by experts in the field of forensic accounting and related areas followed by networking with other practitioners. Craig F...

Past Event | Governance New Zealand National Governance Conference 2015

Thursday 17 September 2015
Governance New Zealand hosted the National Governance Conference 2015 on Thursday 17 September 2015 at the Stamford Plaza, Auckland. The theme of this year's conference was  Contemporary governance issues and the impact on New Zealand business success The impressive 18 speaker line-up consisted of key business ...

Incorporated Societies – the impact of the proposed Bill

Thursday 19 May 4.30pm - 7pm
The Exposure Draft:  Incorporated Societies Bill is currently available for review and submissions.  This proposed Bill will essentially result in a complete rewrite of the legislation covering our 23,000+ incorporated societies in New Zealand.  We are delighted that Maria Clarke, expert not-for-profit lawyer and member of the...