Running an incorporated society (filing financial statements)
 


Running an incorporated society (filing financial statements)

  • What information should be in the financial statements?
  • When must financial statements be filed?
  • Why is it important to file financial statements?
  • Auditor
  • Send documents to
  • Find out more about incorporated societies

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    What information should be in the financial statements?

    Under the Incorporated Societies Act 1908 (The Act) every incorporated society must file a certified copy of its annual financial statement with the Registrar. The annual financial statement should include the following information:

    • The society's full name

    • The financial year that the financial statement has been prepared for

    • The income and expenditure of the society for that financial year

    • The assets and liabilities, as at the close of the financial year

    • All mortgages, charges, and securities of any description affecting any of the property of the society at the close of that year.

    View a sample financial statement
    This sample is intended as a guide only and should be adapted for use by a society only if it is appropriate.

    IMPORTANT NOTE

    If an Incorporated Society is registered with the Charities Commission they no longer need to file their annual financial statements with the Registrar of Incorporated Societies.  They must, however, continue to file other changes in the societies details (e.g. Rules, name, addresses)

    View other document filing requirements for Incorporated Societies.
     

    When must financial statements be filed?

    Each incorporated society should file a financial statement with the Registrar after they have been approved at the Annual General Meeting (AGM).  The deadline for filing is the end of the month after the AGM.   For example: If the AGM month is July, the financial statements are due to be filed before 31 August. 

    The Registrar will send a reminder letter to each incorporated society around the time of their AGM advising when a financial statement is next due to be filed.  The reminder is sent to the Address for Communication that has been advised to the Registrar.  A final reminder is sent to the Registered Office address.

     

    Why is it important to file financial statements?

    Failure to file a copy of the annual financial statement may indicate to the Register that the society is no longer operating. The Registrar may then take steps to dissolve (remove from the register) the society.

    Your filing options

    File Online

    Annual financial statements can be filed online at www.societies.govt.nz using the registry key. There is more information about registry keys in our online Information Library.

    Read the Fact Sheet - Registry Keys

     

    File a paper document

    Alternatively download a form that can be used to file a paper copy of the financial statements.

    When filing the paper document, an officer of the society must certify that the financial statement was submitted to and approved by the members of the society at a general meeting.  The wording for this is provided on the Financial Statement coversheet.  Alternatively, the following wording should be attached or endorsed on the financial statements:

      "I certify that this financial statement has been submitted to and approved by the members at a general meeting ...............................(society name)

      Held on the ...... day of............................. 20..

      Signed........................................................
      Name.........................................................
      Office held.................................................."

    Download the financial statement cover sheet (includes financial statement certification) [52 kB PDF].

    Auditor

    The Act does not make a society appoint an auditor unless the rules require an auditor be appointed.  Depending on the complexity of the society’s finances, it may be desirable for a society to appoint an auditor. An auditor does not need to be a member of the Institute of Chartered Accountants of New Zealand, but a qualified person is preferable.

    Send documents to

    Registrar of Incorporated Societies
    Ministry of Economic Development
    Private Bag 92061
    Victoria Street West
    Auckland 1142

    Find out more about incorporated societies

    In our Information Library we have gathered together a range of resources to help you use our societies services. You will find answers to common questions, forms and fact sheets that step you through our online services.

    Use our Contact Us service to look through these resources and we hope that your question will be answered there. If not, you will be given the opportunity to email us directly.  Alternatively, call us during business hours (8.30am-5pm weekdays) on Freephone 0508 SOCIETIES 0508 762 438 (Overseas callers call +64 3 962 2602).

    Keep up to date with news and developments for the Companies Office and other business units and subscribe to the Business Update, our regular online newsletter. Sign up on line to receive your copy of the Business Update at http://news.business.govt.nz/.

    Updated 1 September 2008