Financial Reporting Act 1993 Pdf Converter

Financial reporting act 1993 pdf converter

Changes authorised by subpart 2 of Part 2 of the Legislation Act have been made in this official reprint.

New Zealand Legislation. Home Advanced search Browse About this site. Quick search HelpQuickSearch? My recent searches. Search within this Act. Add to web feed Order a commercial print. Reprint as at 13 January Note Changes authorised by subpart 2 of Part 2 of the Legislation Act have been made in this official reprint.

Financial reporting act 1993 pdf converter

Note 4 at the end of this reprint provides a list of the amendments incorporated. Preliminary provisions. External Reporting Board, standards, and provisions that apply to other enactments. Financial reporting standards.

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Auditing and assurance standards. Provisions relating to making of and status of standards and authoritative notices.

Financial Reporting Act 1993

Miscellaneous matters relating to application. Tiers of financial reporting. Auditor qualifications. Appointment of partnership. Auditor access to information. Offences concerning unqualified persons. Miscellaneous provisions. Transitional, savings, and related provisions.

The Parliament of New Zealand enacts as follows:. The Parliamentary Counsel Office www. Overview of financial reporting duties. Meaning of financial statements.

Meaning of group financial statements. Meaning of generally accepted accounting practice. Obligation to comply with generally accepted accounting practice prevails.

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Act binds the Crown. Continuation of External Reporting Board.

Financial reporting act 1993 pdf converter

Functions of Board. Board must act independently.

Financial reporting act 1993 pdf converter

Membership of Board. Prospective, summary, or interim financial information. Financial reporting standards may cover non-financial reporting. Non-GAAP standards. Financial reporting standards may classify entity as subsidiary. Interpretation in sections 22 to Disclosure required to comply with standards does not breach privacy principles. Public notice.

Disallowance of instruments by House of Representatives. Certificates of Board. When standards and authoritative notices take effect. Accounting period to which standards and authoritative notices apply. Tiers of financial reporting for different classes of reporting entities. Board must implement strategy for tiers of financial reporting. Minister may approve variation or replacement of strategy. Process for preparing proposals to vary or replace strategy.

Financial reporting act 1993 pdf converter

Consultation on proposals. Purpose and application. Meaning of qualified auditor. Qualifications of auditor. Power of Registrar of Companies to approve associations and auditors.

Approved associations and persons must report to Registrar. Institute, accredited bodies, and approved associations may recognise body corporate as eligible to act as auditor. Registrar of Companies may approve overseas countries and legal structures.

Institute, accredited bodies, and approved associations must keep recognition under review.

Body corporate must ensure that engagement director is qualified auditor. Recognised body corporate must not act if requirements no longer met. Offence relating to section 36F or 36G. Cancellation or suspension of recognition or approval.

Effect of cancellation or suspension of accreditation or approval on recognition under section Registrar of Companies may authorise person to continue to act in respect of audit despite cancellation or suspension under section 36J. Notification of recognised and approved persons. Records of recognised persons. Register of approved persons. Search of register. Appeals in respect of recognition or approval matters. False declarations and representations.

Financial reporting act 1993 pdf converter

Exemption from membership requirement for certain members of religious societies or orders. Institute or other accredited body may recognise as qualified statutory accountants certain members of religious societies or orders. Requirements for arrangement. Specified entity must give auditor access to information. Auditor may require information and explanations from director or employee.

Offence for unqualified auditor to act. Offence to hold out as qualified auditor or as approved person.

Financial reporting act 1993 pdf converter

Meaning of balance date. Entity must have balance date in each calendar year. Approval of Commissioner of Inland Revenue and other provisions relating to change of balance date.

Meaning of large. Meaning of specified not-for-profit entity. Financial reporting standards must be complied with.

Minister must regularly review amounts to take into account inflation. Order may amend amounts. Levy regulations. Payment of levies.

Offence to hold out as qualified statutory accountant. Repeal and revocations. Financial Reporting Act continues to apply to issuers [Repealed]. Former law for FMC reporting entities generally continues to apply to accounting periods that commence before commencement of section.

FMC reporting entity that is issuer or trustee of scheme that is not yet registered. Financial reporting standards and auditing and assurance standards continue in effect. External Reporting Board may exercise power before commencement.

Financial Reporting Act 2013

Definitions of large and specified not-for-profit entity may take into account accounting periods that commence before commencement of section. Approvals for auditors continue in effect.

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Schedule Transitional, savings, and related provisions. Reprint notes.