In case you have missed it, the reporting requirements in NZ have been reviewed and more clearly defined, with effect from 1 April 2014. The reporting standards are now monitored by the NZ Government’s External Reporting Board (XRB). For the official details, go to the government XRB website here.
All businesses will be affected. Although the XRB has proudly promoted the revised standards as bringing simpler reporting to NZ businesses, ironically IRD are increasing their information requirements via the tax return process. Interesting to note that over the last few years, banks have been more demanding in their reporting requirements via banking covenants.
EPPL’s goal is to make reporting as functional and as streamlined as possible. We will be reviewing our own reports over the next 12 months to ensure that all our clients meet the requirements of all institutions AND continue to be useful in providing guidance to business owners and managers.
We have posted a pdf copy of the XRB Overview.