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Financial reporting

— filed under: New Zealand Legislation, New Zealand Institute of Chartered Accountants (NZICA)

All companies and issuers are obliged to complete financial statements in accordance with the requirements of the Financial Reporting Act 1993 (FRA) and Financial Reporting Amendment Act 2006.

FRA calculator

Use our interactive guide below, as a simple and quick test to determine if your company has an ongoing or future filing obligation under the Financial Reporting Act 1993.

To begin using this calculator select 'Yes' or 'No' to answer the first question. Depending on your response we will ask you some further questions, or a statement will appear indicating the filing requirements.

Adobe Flash Player is required to view the calculator.

This quick test is a guide only. We strongly encourage you to send an email to the Compliance Team for confirmation of your company's FRA filing status.

If you are unable to work out the applicable section which applies to your specific case, please consult your own solicitor, accountant or professional advisor.

Only valid for those companies with an accounting period current at 21 January 2007 and a balance date after this date.

Important

If you are unable to work out your shareholding structure based on the above quick test, you can also view various examples and diagrams that illustrate different FRA scenarios.

Please check additional information on our website for possible filing exemptions under the Financial Reporting Act 1993 (e.g. Section 10A - non-active entities, power to grant exemption by the Registrar and the Securities Commission.

Audit requirements

The Companies Amendment Act (No 2) 2006 and the Financial Reporting Amendment Act 2006 removed the filing requirements for many overseas-constituted companies and companies with 25% or more overseas ownership. However, requirements for financial documents to be audited remain unchanged.

Further information

A guide for small business

Which companies are required to file and who should prepare accounts. When and what documents should be prepared. Is an audit required and how are documents registered with the Companies Office.

New Zealand companies

New Zealand companies may be required to file financial statements.

Financial reporting for overseas companies

Overseas companies (including Australian overseas companies) are required to file financial statements.

Issuers

Issuers are required to file financial statements.

Fast track your filing

The Fast Track Filing System makes filing financial statements easier and faster.

Non-active declaration form

Frequently asked questions regarding the Non-Active Declaration Form.

Financial Reporting Amendment Act 2006

On 15 November 2006, the Financial Reporting Amendment Act 2006 introduced some changes to the Financial Reporting Act 1993. The amendments to the Financial Reporting Act 1993 will come in to force at various stages, however changes to section 19 and the introduction of section 19A relating to the requirement to file financial statements with the Registrar came into force on 21 January 2007. They affected companies with balance date after this date.