These levels apply to all companies in a group if the parent company is incorporated in New Zealand. The annual accounts may not be signed by anyone other than a director. You can prepare your company`s financial statements at least if, in each of the last 2 fiscal years: When scanning documents, make sure they are scanned vertically (portrait) and that all information is included on the scanned page. When to file online and when to submit printed copies If your financial statements are audited abroad, the auditor must be registered in the Register of Certified Foreign Auditors and the Association of Public Accountants. If you need help completing your financial statements, call us during business hours. You must file your financial statements through your online services account if: Financial statements are filed online or filed on paper in paper form, depending on whether you are a large corporation or an FMC reporting entity. Public limited companies and limited liability companies prepare annual financial statements in accordance with § 6/17 of the Joint Stock Companies Act 2014. All financial statements filed with the CRO must be prepared in accordance with the Companies Act 2014. Filing financial statements is a legal requirement and your company and directors may be fined if you do not comply. The balance sheet date (month and year) in your financial statements should be the same as in the online filing checklist in your commercial register. The Corporations Act, 2014 requires directors of all corporations to submit the following financial statements and reports to the members of the corporation at the general meeting: The accounting requirements of FMC`s reporting entities, including issuers, are regulated by the Autorité des marchés financiers.
A New Zealand company that is a subsidiary of a company incorporated outside New Zealand is required to file audited financial statements if, at the balance sheet date, at least 1 of the following applies for the previous 2 accounting years: Your business (including your prospecting business) may need to create financial accounts for us. Your annual income and assets determine the minimum financial reporting requirements your business must meet. Unlimited liability companies and partnerships: An unlimited liability company is not necessarily exempt from the requirement to file financial statements, as some unlimited liability companies and partnerships (including limited partnerships) are required to prepare and submit financial statements to the ORC. The financial statements are required by these companies under Section 1274 of the Companies Act 2014. Indeed, a company or partnership with unlimited participation, where all the partners who do not have a limitation of liability are limited liability companies on shares or by guarantee, is obliged to submit annual financial statements. The Autorité des marchés financiers (FMA) is authorized to grant exemptions from financial reporting. Up-to-date information is available on the FMA website. Limited liability companies: Limited liability companies (a form of limited liability company that does not act for the acquisition of profits by members) are required to prepare and file financial statements in accordance with Parts 6 and 18 of the Companies Act 2014. If your corporation`s reporting date changes, you must ask us to change the reporting month before filing your financial statements. Directors must sign and date the financial statements before or on the same date as the audit report is signed and dated. If your company is a subsidiary of a New Zealand company that prepares consolidated general financial statements, your financial statements must meet the minimum financial reporting requirements.
The annual accounts and the directors` report must be signed on behalf of the directors by two directors. (If the company is an LTD company, a private limited liability company by shares, registered under the Companies Act 2014 and having only one director, the documents must be signed by the sole director). Common errors that lead us to reject financial statements Financial statementsCompanies are required to keep appropriate records that give a true and fair view of the financial affairs of the company. Companies are also required to publish their financial statements at the Annual General Meeting and to attach a copy of these accounts to the annual statement submitted to the CRO. In addition, they are required to comply with certain standards when preparing financial statements, to follow models and to disclose certain information in the notes. The company cannot file two annual reports with the same financial statements Section 347 (4) of the Companies Act 2014 states that any document attached to an annual statement covers the period since the end of the period covered by the financial statements attached to the previous annual statement and must be prepared before a date not exceeding 9 months before the date, on which the declaration is drawn up. This means that each financial statement must begin on the first day following the period covered by the last financial statement filed with the CRO. As of March 31, 2016, the CRO requires companies to file separate financial statements with each annual report. Businesses are reminded that the Companies Act, 2014 provides a number of methods for extending an ARD date and aligning DRAs and fiscal year ends (FYE). If your business details change at any time of the year, you must let us know. You must inform us of many of these changes within a certain period of time. The first annual report submitted by a company after its incorporation need not necessarily be accompanied by annual accounts.
The declaration must be made not later than the date, that is, six months after the date of incorporation of the corporation. If you need to prepare financial statements to higher standards, you must prepare general financial reports using External Reporting Committee (XRB) standards. You don`t need to create separate financial accounts for us. Their financial statements must be clear and legible and all information and data must be legible. For example, remove any shading from the comparison numbers, as scanning can affect the readability of the image. Financial statements must be filed or filed no later than: You must file an annual statement on behalf of the corporation each year. It confirms the details of your business – it`s not a tax return or financial report. If a company has a large business in New Zealand, separate financial statements for the business should be included.
OBLIGATIONS RELATING TO THE ANNUAL ACCOUNTS OF COMPANIES 2014 ACTUn Part 6 of the 2014 Act and with respect to financial years beginning on or after 1 June 2015, certain obligations are provided for: Please note that section 288 (1), CA 2014, states that the first fiscal year of a corporation begins with incorporation and ends on a date, which ends no later than 18 months after that date. This gives a company the flexibility to use its first full annual statement (which must be filed no later than 18 months after incorporation) to file financial statements for a period of less than 18 months in order to achieve the desired ARD/FYE combination, keeping in mind that the DRY cannot be more than 9 months after the end of the fiscal year. Determination of the duration of financial years Under section 288 of the Companies Act 2014, financial statements attached to a company`s first full annual statement (i.e. with the financial statements) must cover the period since incorporation and must not exceed 18 months. Each subsequent fiscal year begins on the day immediately following the end date of the last fiscal year and must be less than or greater than 12 months for a maximum period of 7 days. A corporation may, by filing a Form B83 with the Registrar (filing fee: €15), request to change (i.e. shorten or extend) its current or previous fiscal year end date, which then becomes its end date for the future fiscal year. If you file financial statements under the Companies Act 1993, the fees are different from those you are required to file under the Financial Markets Conduct Act 2013 (FMC).
The fee must be paid when you file your financial statements with the Companies Office. We strive to process your financial statements within 3 business days. We will either send you a written response: if you have declared that your company is not active, you do not need to prepare annual financial statements.