The NZ multi-tier reporting regimes raise the complex issue of just what applies and when. To assist we have a tool that may be used to either test that your client has chosen a suitable reporting regime or it may equally well be used to help you choose the appropriate standards to adopt for your compilation work.
- The tool may be used independently of audit, review or compilation job, to decide which regime applies
- In audit or review the tool is included within the template to ensure that the correct regime has been chosen
- The regime selection tool produces a report that may then be attached as PDF into client file to show how the reasoning behind the regime selection
- The job has only 3 pages:
- The A1 Control page is where the decision is made whether the entity is Public Benefit or For Profit, and also where the final report is printed
- A2 is the decision process for Public Benefit Entities (PBE)
- A3 is about For Profit Entities (FPE).
- The pages follow the logic of XRB- A1.
- An example of the final report (which may be printed to PDF and attached to audit file):
The Financial Reporting Regime Tool is included in the accounting tools packages.