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New Zealand companies

— filed under:

A New Zealand company may be required to file accounts with the Companies Office if it falls under one of the following categories: 

  1. Under section 19(1)(b) Financial Reporting Act 1993
    If it is a 'large' company in which 25 percent or more of the voting shares are held by —
    • A company or body corporate incorporated outside New Zealand; or
    • A subsidiary of a company or body corporate incorporated outside New Zealand; or
    • A person not ordinarily resident in New Zealand.
  2. Under section 19 (1)(c) Financial Reporting Act 1993
    If it is a subsidiary of a company or body corporate incorporated outside New Zealand.

 

Glossary definitions

 

The financial statements may include two types of accounts

  1. New Zealand company accounts; and
  2. Group accounts (only if the New Zealand company has a subsidiary or subsidiaries).

 

If you are filing New Zealand company accounts AND group accounts, ensure they are submitted for registration together.

 

Content of New Zealand company accounts

  1. Statement of financial position
  2. Statement of financial performance
  3. Statement of cashflows
    • Except where differential reporting applies or the company is exempt under section 12 of the Financial Reporting Act 1993
  4. Statement of movements in equity
  5. Statement of accounting policies
  6. Notes to the accounts
  7. Audit report (must comply with section 16 of the Financial Reporting Act 1993)
    • Must be dated and signed by the auditor
    • Cannot be signed in the name of a limited liability company
    • Must relate to the correct reporting period
    • Must include the correct company name
    • Must have page number that are consistent with those in the financial statements
  8. The financial statements must not include a disclaimer if the party that prepared the accounts and the party that audited the accounts are the same
  9. The accounts must be signed and dated by two directors (or if there is only one director, by that director).

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Content of group accounts (only if the New Zealand company has a subsidiary or subsidiaries)

The content of the financial statements include:

  1. Consolidated statement of financial position
  2. Consolidated statement of financial performance
  3. Consolidated statement of cashflows
    • Except where differential reporting applies
  4. Consolidated statement of movements in equity
  5. Statement of accounting policies
  6. Notes to the accounts
  7. Audit report (must comply with section 16 of the Financial Reporting Act 1993
    • Must be dated and signed by the auditor
    • Cannot be signed in the name of a limited liability company.
    • Must relate to the correct reporting period
    • Must include the correct company name
    • Must have page number that are consistent with those in the financial statements.
  8. The financial statements must not include a disclaimer if the party that prepared the accounts and the party that audited the accounts are the same.
  9. The accounts must be signed and dated by two directors (or if there is only one director, by that director).

 

Issuers

Issuers are required to file financial accounts under section 18 of the Financial Reporting Act 1993.

 

ASIC companies

All New Zealand companies registered as foreign companies with the Australian Securities & Investments Commission (ASIC) are required to file financial statements with ASIC every year.

 

Further information

 

Last updated 28 August 2012