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Financial statements

Many incorporated societies have to file a copy of their annual financial statement with the Registrar. Once you've submitted your financial statement to the register, it will be publicly available online.

The annual financial statement should include:

  1. the society's full name
  2. the financial year that the financial statement has been prepared for
  3. the society's income and expenditure for that financial year
  4. the assets and liabilities, as at the close of the financial year
  5. all mortgages, charges, and securities of any description affecting any of the society's property at the close of that year
  6. an audit or review report (where a society’s rules specify that an auditor or reviewer must be appointed)
  7. a certificate signed by an officer of the society confirming that the statement has been submitted to and approved by the members at a general meeting.

 

Note | If your society has financial statement preparation, audit and filing obligations under other legislation e.g. where the society is an issuer, FMC reporting entity, charity or industrial and provident society etc, we recommend you seek professional advice as appropriate.

 

What if your society is registered with Charities Services?

An incorporated society that is also registered with Charities Services no longer needs to file their annual financial statements with the Registrar of Incorporated Societies. 

All incorporated societies, however, must advise the Registrar of other changes in the society's details (e.g. changes to rules, name, addresses), regardless of whether they're registered with Charities Services.  Learn more...

 

[icon] Register documents. More information about financial statements

Why should you file financial statements?

It’s important to file a copy of the annual financial statement to comply with the society’s financial reporting obligations. It also shows the Registrar that the society is still operating and should stay on the Register.

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When do you need to file financial statements?

You should file your financial statement with the Registrar as soon as possible after it’s been approved by the members at a general meeting (e.g. the Annual General Meeting (AGM)) of the society.

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How do you file financial statements?

There are two ways to file financial statements - online using your registry key or by filing paper forms.

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Do you need to have your financial statements audited or reviewed?

The Registrar doesn't require financial statements to be audited or reviewed. The rules of a society will specify whether an auditor must be appointed.

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Common mistakes to avoid when filing financial statements

This is a list of the top 10 mistakes made when preparing and filing financial statements for incorporated societies.

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View a sample financial statement

Use this sample financial statement as a guide when preparing annual financial statements for an incorporated society.

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View a sample nil financial statement

Use this sample nil financial statement as a guide when preparing annual financial statements for an incorporated society that has had no expenditure or income, and has no assets and liabilities.

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Last updated 6 October 2016