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Financial Markets Conduct Act 2013

Financial reporting - Preparation, audit, and lodgement of financial statements - Preparation of financial statements

460: Financial statements must be prepared

You could also call this:

"Companies must do their financial homework on time and correctly."

Illustration for Financial Markets Conduct Act 2013

If you are an FMC reporting entity, you must prepare financial statements within 4 months after your balance date. Your financial statements must follow generally accepted accounting practice and be completed for your entity and balance date. They must also be dated and signed by 2 of your directors, or by your only director if you have just one. You can find more information about this in sections 461(2) and 461A(4), which have some rules that apply to this. When you prepare your financial statements, you must make sure you follow these rules.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4702253.

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"Letting people check your financial records"

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461: Group financial statements must be prepared, or

"Big companies must do special financial reports that show how all their smaller companies are doing."

Part 7Financial reporting
Preparation, audit, and lodgement of financial statements: Preparation of financial statements

460Financial statements must be prepared

  1. Every FMC reporting entity must ensure that, within 4 months after the balance date of the entity, financial statements that comply with generally accepted accounting practice are—

  2. completed in relation to the entity and that balance date; and
    1. dated and signed on behalf of the entity by 2 directors of the entity or, if the entity has only 1 director, by that director.

      1. Subsection (1) is subject to sections 461(2) and 461A(4).

      Compare
      Notes
      • Section 460: replaced, on , by section 48 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).