Charities Act 2005

If you need more information about this Act, please contact the administering agency: Department of Internal Affairs
42A Content of financial statements


The financial statements referred to in section 41(2)(b) must be prepared in accordance with,—


in the case of financial statements of a specified not-for-profit entity, generally accepted accounting practice; or


in any other case, either generally accepted accounting practice or a non-GAAP standard that applies for the purposes of this section.


In this section and sections 41 and 42B,—


specified not-for-profit entity has the meaning set out in section 46 of the Financial Reporting Act 2013:


accounting period, applicable financial reporting standard, financial statements, generally accepted accounting practice, and non-GAAP standard have the same meanings as in section 5 of the Financial Reporting Act 2013.


If a charitable entity is subject to another Act that imposes duties relating to the preparation, audit, registration, or lodgement of financial statements, the entity must, in addition to complying with this Act, comply with the requirements of that other Act.

Section 42A: inserted, on 1 April 2015, by section 20 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).