Month: November 2011


Where we need to be

By Hayes Knight – 30 November 2011 What we consider important now, may not be so in the future. New Zealand is heading for significant change over the next 40 years. Our population is estimated to double to 8 million by 2050. So how do we plan for this growth and manage change? How do […]

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Key changes in the new auditing standards

By Hayes Knight – 28 November 2011 – 1 comment International Standards on Auditing (New Zealand) are in effect – are your auditing practices up to speed? As all auditors should now be very well aware New Zealand now has a new suite of mandatory auditing standards, the International Standards on Auditing (New Zealand) or […]

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Resilience in adversity

By Hayes Knight – 24 November 2011 – 1 comment Hayes Knight would like to thank ASB’s Chief Economist Nick Tuffley for his fantastic insights into the current financial strains on Europe and the continuing crisis centred around Greece’s debt. Other key messages that stood out: One of the most significant buffers for New Zealand […]

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IRD pursues NZ tax residents with undeclared foreign income

By Shelley-ann Brinkley – 24 November 2011 The Inland Revenue is actively pursuing New Zealand tax residents who have undeclared foreign sourced income. What are your tax obligations? What are the consequences if you don’t comply? What should you do? The Inland Revenue’s concerns In a recently issued Revenue Alert, Inland Revenue outlined its concerns […]

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Time is almost up for owners of pre-1990 exotic forest land

By Shelley-ann Brinkley – 23 November 2011 Do you have more than a hectare of exotic forest on your land? If the forest was established before 1 January 1990 and the tree species are capable of reaching more than 5 metres in height you may be forced to enter the Emissions Trading Scheme (ETS). When […]

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Auditing standards and regulation

By Hayes Knight – 13 November 2011 To borrow some words of Bob Dylan: “…the times they are a-changin”. We look at recent changes as they are impacting auditing and assurance of not-for-profit entities in New Zealand. Audits continue to be the most popular form of independent assurance requested over financial statements; however, recent years […]

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Financial reporting shake-up impacts schools

By Hayes Knight – 2 November 2011 Some big changes have been recently proposed regarding annual financial reporting in New Zealand – probably the most significant we’ve seen in a generation. This shake-up will impact schools in the future, so it is therefore important to know what these changes are and what they mean for […]

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