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The impacts of the new financial reporting regime on charities


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Prior to 2015, there were no mandatory reporting requirements for charities in New Zealand and many criticisms existed of the old practices. Therefore, new reporting requirements were issued to improve transparency, accountability and comparability on charities in 2013 and the effective date was set to be April 1st, 2015. This research aims to investigate the impact of the new financial reporting regime on charities after three years of implementation. To achieve the objective, qualitative methods were applied in this research and the data was collected through three semi-structured interviews which were conducted with accounting staff from three different registered charities. The results showed that some charities approved of the new regime, as it improved transparency, accountability and governance to them, but some of them thought it had brought more inconveniences. It also revealed that some charities’ internal accounting staff still do not entirely understand the new standards, so it is suggested that the government may consider providing more professional training to them, especially for small charities. However, all three charities involved in the research agreed that after three years of implementation, they felt more comfortable about the new regulations.

Item Type: Paper presented at a conference, workshop or other event, and published in the proceedings
Uncontrolled Keywords: financial reporting, accounting, charities, non-profit
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: 18 Dec 2018 00:08
Last Modified: 21 Jul 2023 07:56

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