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Incorporated Societies Act 2022

Administration of societies - Accounting records, financial reporting, and annual returns - Financial reporting

104: Minimum requirements for financial statements of small societies

You could also call this:

"What small societies must include in their financial reports"

Illustration for Incorporated Societies Act 2022

When you prepare financial statements for a small society, they must include certain information. You need to show the income and expenditure of the society during the accounting period. You also need to show the society's assets and liabilities at the end of the period. You must include details of any mortgages or security interests affecting the society's property. Your financial statements must also meet the requirements set out in the regulations, as referred to in section 102(2)(b)(iii). This ensures your financial statements are complete and follow the rules.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS154402.

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Part 3Administration of societies
Accounting records, financial reporting, and annual returns: Financial reporting

104Minimum requirements for financial statements of small societies

  1. For the purposes of section 102(2)(b)(iii), the financial statements for an accounting period must—

  2. contain the following information:
    1. the income and expenditure, or receipts and payments, of the society during the accounting period; and
      1. the assets and liabilities of the society at the close of the accounting period; and
        1. all mortgages, charges, and other security interests of any description affecting any of the property of the society at the close of the accounting period; and
        2. otherwise comply with requirements prescribed by the regulations.