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An insight into the experience of Waikato charities and their transition to the new charity reporting regime


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Prior to 2015, there were no requirements for charities in New Zealand to produce financial reports. Prospects and evidence of poor accounting eventually led to vast criticism and debates as to the lack of standards that demanded accountability and transparency. Because the sector’s primary survival is dependent on public trust and confidence, proposed changes resulted in a statutory reform in New Zealand and the introduction of new accounting and auditing standards. This study aims to explore the impact that the new accounting and auditing standards have had on charities in the Waikato region. This research intends to answer the following question: “How have the new financial reporting standards impacted on charities in the Waikato region?” Three semi-structured interviews were conducted on treasurers of three Waikato charities to answer this question. These charities were from different tier levels; Tier 2, tier 3, and tier 4. Qualitative data was collected from these interviews and analysed using a narrative approach. This study found that all charities who participated were impacted to varying degrees. The charities who had complied experienced to some degree an increase in accounting and/or auditing cost. In regards to accountability and reporting, the study found that the knowledge and expertise of the preparer of the financial reports is the main factor which contributes to the compliance of the charities and the impact that they experience. The changes were found to be more onerous and demanding for the smaller charities, especially those reliant on volunteers.

Item Type: Paper presented at a conference, workshop or other event, and published in the proceedings
Uncontrolled Keywords: charities, financial reports, accounting
Subjects: H Social Sciences > HF Commerce
Divisions: Schools > Centre for Business, Information Technology and Enterprise > School of Business and Adminstration
Depositing User: Adrian France
Date Deposited: 13 Dec 2018 04:33
Last Modified: 21 Jul 2023 07:49

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