Audit

The move to online retail

March 21, 2017
The internet is now the number one shopping destination globally, and not surprisingly. For customers, it’s ideal. There’s no need to get in the car and visit ten shops without finding exactly what you want. This way, it’s all in one place and you needn’t battle with other shoppers for the nearest and driest car park. We have all become a bit impatient too. Purchases from your phone, tablet or desktop at any hour of the day or night help satisfy...

Public Benefit Reporting Assistance

December 13, 2016
Public Benefit Entities (PBE’s) have had to prepare financial statements in accordance with the new reporting requirements as issued by the Accounting External Reporting Board (XRB) for periods beginning on or after 1 April 2015. A PBE is defined as a reporting entity whose primary objective is to provide goods or services for community or social benefit and where any equity has been provided with a view to supporting that primary objective rather than for a financial return to equity holders....

The need to review your Internal Controls

December 7, 2016
Introduction Organisations of all sizes need to both implement strong internal controls and monitor these controls to safeguard their assets, operate efficiently & effectively and in compliance with applicable laws and regulations. Without strong internal controls organisations open themselves up to a number of serious issues which can have very adverse effects. At Nexia our audit team can work with you to develop and/or enhance your organisations internal controls which can assist greatly in the on-going success of your business. Internal...

Global Ambition - A Case Study

December 6, 2016
For the purposes of this article, the company referred to in this article will be know as XYZ Limited. XYZ Limited has been a client of HFK Limited/Nexia New Zealand for a number of years. During this time we have developed an in depth level of understanding the Company’s internal processes, overall purpose and long term aspirations. XYZ Limited is a locally owned electronics manufacturer and is not required under any legislation to have an audit, however the main shareholder believes...

Data Analytics - The Competitive Advantage

December 6, 2016
Data analytics is the process of systematically applying statistical and/or logical techniques to describe, condense and evaluate data. Nexia New Zealand has recently adopted new data analytics software known as IDEA, with our overall goal being to enhance our computer-assisted testing to provide a more holistic or “big picture” approach without impacting our required levels of assurance. We operate in an industry where there is often an abundance of data and information available, however the true potential for this information is...