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Financial reporting and control relationships
Updated 14 March 2023
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Financial reporting needs to tell a story about what you do, the resources you use to do it and how well set up you are to continue it. To tell this story, you may need to consider whether you have control relationships with other organisations. If you have control relationships, this could affect the story that needs to be told and the reporting tier that your charity is eligible to use.
It can be hard to work out if and when charities have a control relationship. You n… -
Tier 3 reporting webinars
Here you will find a number of different webinars to support you in completing both your performance report and annual return.
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Tier 3 – Tour of the performance report
In this webinar we explain: What a performance report is, how it fits in with your charity's annual return, what you need to complete one and how it can help your registered charity.
Annual reporting – An overview for Tier 3 and 4 charities
This webinar covers: What are the annual reporting obligations for registered chari… -
About the reporting standards
About the reporting standards and when you have to prepare financial statements.
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All registered charities must complete annual reporting to Charities Services. This includes filling out an annual return and attaching financial statements. Prior to the reporting standards being introduced, there were no minimum standards on the content or the quality of those financial statements. The latest reporting standards came into effect on 1 April 2015 and registered charities need to prepare… -
Tier 3 annual reporting resources and templates
Here you will find Tier 3 annual reporting guidance, a webinar that guides you through the performance report, performance report templates to download and other resources.
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Annual Reporting Guide for Tier 3 CharitiesThis guide takes you through the steps required to report annually to Charities Services, including confirming your charity's tier, preparing your charity's performance report and filing the annual return. It is a practical step-by-step guide to be used in conjunction with… -
Tier 4 member and non-member receipts
In the Statement of Receipts and Payments, money received from members is to be recorded separately to money received from non-members.
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Where practical, all receipts from members should be recorded in the category ‘Fees, subscriptions and other receipts from members’.
This could include:
membership fees and subscriptions
donations, koha or offerings from members
fundraising contributions from members
receipts from members for goods or services.
Receipts from non-members are recorded in either… -
Tier 3 minimum categories
The Tier 3 standard sets out minimum categories that must be used in preparation of the Statement of Financial Performance and Statement of Financial Position.
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For each statement these would be:
Statement of Financial Performance
Revenue categories
Donations, fundraising and other similar revenue
Fees, subscriptions and other revenue from members
Revenue from providing goods or services
Interest, dividends and other investment revenue
Other revenue
Expenses categories
Expenses related to pub… -
Related party transactions for Tier 3 and Tier 4 charities
The Tier 3 and Tier 4 financial reporting standards require charities to report related party transactions. Related party transactions are recorded in the Notes section of the performance report.
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A related party transaction is a transfer of money, goods or services between a charity and those who are closely associated and have the ability to influence the charity.
Charities typically rely on volunteers and donated goods or services, especially from related parties such as officeholders and me… -
Conflict of interest/Pānga Rongorua
A conflict of interest is any situation in which an officer’s personal interest or loyalties could affect their ability to make a decision in the best interest of the charity.
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It is common for conflicts of interest to occur in charities of all types and sizes, particularly where officers are related by blood, marriage or domestic partnership. If not well managed, a conflict of interest could lead to decisions which are not in the best interests of the charity, create disputes, or damage a chari… -
Statutory audit and review requirements
Changes to the Charities Act 2005 created statutory audit and review requirements for medium and large registered charities. The current thresholds have come into effect from 1 January 2022
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Are you affected?If your total operating expenditure for each of the previous two accounting periods was:
over $550,000 (medium) – your financial statements must be either audited or reviewed by a qualified auditor
over $1.1 million (large) – your financial statements must be audited by a qualified audit… -
How to use the Tier 4 Excel template
This tutorial will help you use the Tier 4 performance report template in Excel. You can watch the tutorial as a series of short videos or read the written version below. It will take 20 minutes to watch the whole tutorial.
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Watch the tutorial
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ContentsWelcome
1.1 Outline
1.2 Download the template
1.3 Save the template
A quick tour
2.1 Worksheet, ribbon & sheets
2.2 Name a year end
2.3 Asterisks and guidance notes
2.4 Edit cells
2.5 New paragraph within a cel…