Risk management and other services

Businesses face all kinds of risk and we provide risk management and assurance services to ensure those risks are identified and managed in the most effective way

Fraud prevention & investigation

Designing effective systems within your business to prevent, deter and detect fraud is essential.  We can work with you to develop systems that are designed to reduce the likelihood of fraud in key business processes, such as payroll, cash receipting and procurement. Where fraud is suspected or detected, we can undertake a thorough investigation and, if required, document findings for legal proceedings.

 

Internal audit

We provide outsourced and co-sourced internal audit services that help you to manage your risks. We focus on developing and executing risk-based internal audit plans that are designed to rigorously test your existing control procedures and identify areas where improvements are required. Common risk areas we provide assistance with include IT risk assessment, such as data management and cybersecurity and supply chain management.

 

 

Financial reporting advice

Accounting standards are constantly changing and becoming harder to apply.  We can assist by:

  • Providing accounting advice on significant, complex transactions in a time-sensitive manner
  • Guiding entities through changes to financial reporting standards
  • Helping you streamline financial statements
  • Liaising with the External Reporting Board, through the Technical Resource Group, to support local businesses in applying GAAP in New Zealand

The Technical Team are part of a global group of advisory professionals through the Baker Tilly International network. We are able to leverage knowledge locally and offshore to meet your international financial reporting requirements.

 

Agreed-upon-procedures

Agreed-upon procedures engagements can be helpful where you want a targeted review undertaken, or specific information about particular matters, such as one area of your business or one section of your financial statements. We work with you to discuss and agree your requirements and design and perform appropriate procedures. We recommend these types of engagements for funding agencies, as it can be useful to target specific areas they are interested in, for example, giving specific information relating to a particular grant such as whether it was received and banked by the organisation, that specific items were purchased, or that specific wages were paid.

 

 

Technical reviews

We can provide you with technical advice to assist you in adopting new or updated financial reporting standards, or accounting for complex transactions or new business structures. We liaise with our international colleagues, as well as the External Reporting Board and key regulators such as Charities Services and the Financial Markets Authority, to keep on top of financial reporting and regulatory changes.

We have a team of experts who can assist you in accounting for your business in line with changing technical requirements and business practices.  

 

 

Enterprise risk management

We can assist management and boards to develop and execute a cross-functional approach to risk management. This approach will enable your business to focus on identifying and managing the key business risks that are most likely to impact on achievement of your strategic objectives. We can also provide dedicated governance support such as facilitating board workshops to identity their key strategic risks, based on our experience across a number of industry areas.  

Services

News

02 Jul 2019

Safeguard your business from fraud and theft

Fraudulent business activities are on the riseThe New Zealand Crime and Victims Survey (May 2019) highlighted...

28 May 2019

Review of the Charities Act – Accumulation of Funds

This article is in continuation to our last article regarding the post- implementation review of the...

31 Mar 2019

Accounting standards: The latest (and greatest) changes

There’s a first time for everything and that includes two new accounting standards which will soon...

20 Feb 2019

Current Requirements Imposed on Societies

Can the society make a profit or is this considered a financial gain?Even though an incorporated society...

19 Dec 2018

New Zealand Charity Reporting Awards 2019

The 2019 New Zealand Charity Reporting Awards is an event run by Chartered Accountants Australia and...

20 Jun 2018

Does your Charity Control Other Organisations?

This article will help charities, with annual expenditure under $2m, understand their obligations with...

23 May 2018

New Related Party Disclosure Rules for Tier 3 and 4 Charities

In addition to the other mandatory reporting changes I’ve discussed in previous articles, which...

08 May 2018

What's Changed with Charity Reporting

What changes have taken place 

For accounting periods commencing on or after 1 April 2015 all registered...

20 Apr 2018

Revenue Recognition for Tier 3 Charities

In addition to the other mandatory reporting changes that have taken place for charities with annual...

03 Apr 2018

Ready, Set, Go! Getting Ready to Implement the ‘Big 3’ Financial Reporting Standards

All eyes are on the Gold Coast to see which athletes will come up trumps in the Commonwealth Games. Looming...

20 Mar 2018

Accounting Standards for Tier 3 and 4 Charities - Cash v Accrual Accounting

For accounting periods commencing on or after 1 April 2015 all charities, must prepare financial statements...

15 Dec 2017

Charity Performance Reporting - What's it all About?

There is no doubt about it – registered charities perform a critical role in New Zealand society. As...

09 Aug 2017

Are you Ready to Change How you Account for Revenue?

NZ IFRS 15 Revenue from Contracts with Customers is the new accounting standard that will replace existing...

15 May 2017

Registered Charities - Statutory Audit or Review

For balance dates commencing from 1 April 2015, the Charities Act 2005 requires that all registered charities...

03 Apr 2017

New Service Launched to Assist in Identifying Fraud

When was the last time you performed a review of the underpinning data within your finance system?
Are...

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