Incorporated Societies Act 2022

If you need more information about this Act, please contact the administering agency: Ministry of Business, Innovation, and Employment

Financial reporting

102 Annual financial statements must be prepared and registered

(1)

Every society must ensure that, within 6 months after the balance date of the society, financial statements are—

(a)

completed in relation to the society and that balance date; and

(b)

dated and signed by or on behalf of the society by 2 members of the committee.

(2)

The financial statements must be prepared in accordance with,—

(a)

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

(b)

in the case of a small society, any of the following:

(i)

generally accepted accounting practice; or

(ii)

a non-GAAP standard that applies for the purposes of this section; or

(iii)

the requirements set out in section 104; or

(c)

in any other case, either of the following:

(i)

generally accepted accounting practice:

(ii)

a non-GAAP standard that applies for the purposes of this section.

(3)

Every society must ensure that, within 6 months after the balance date of the society, copies of the financial statements of the society for the period ending on that date are given to the Registrar for registration.

Compare: 1993 No 105 s 201