BVO Decision Tree

Are you a Not for Profit entity?

YesNo

Is the entity part of the Government or Local Council?

YesNo

The entity is a Public Sector Public Benefit enity. Refer to the Public Audit Act/FMC Act 2013 to work through Audit Requirements.

The entity is a Not-for-profit
public benefit entities (NFP PBEs)

Is the Entity an Incorporated or Unincorporated Society/Club

YesNo

Is the entity a Charitable Trust?

YesNo

Does the entity have charitable status?

YesNo

Is the Entity a Friendly Society or Credit Unon?

YesNo

Has the entity incurred operating expenses >$140k over the past 2 financial years?

YesNo

The entity is a For-Profit Entity

Does the entity have Charitable Status?

YesNo

Does the entity have operating expenses > $550k?

YesNo

Does the entity's constitution require a review or audit/Review?

YesNo

Does the entity's Funders require an audit?

YesNo

Did the entity have total operating expenditure over the preceeding 2 years >$3m?

YesNo

Is the Entity A Limited Liability Company?

YesNo

Are over 50% of the shares owned by NZ's?

YesNo

Over the last 2 financial years, were the total assets > $22m or was revenue > $11m?

YesNo

Is the Entity A Limited Partnership?

YesNo

Is the Entity A General Partnership?

YesNo

Is the Entity a Body Corporate?

YesNo

Over the last 2 financial years, are the total assets > $66m or was revenue > $33m?

YesNo

Have 95% of more voting shareholders elected (by the due date) not to have an audit?

YesNo

Is the Entity a Maori Incorporation?

YesNo

Is the Entity a Maori Trust Board?

YesNo

Is the Entity a Class 4 Gambling Operator?

YesNo

Is the Entity a Real Estate Agency with a Trust Account?

YesNo

Is the Entity Private training establishment (PTE)?

YesNo

Does the MoE Funding agreement require an audit?

YesNo

Does the PTEs use a standard, static or bank bond trust mechanism?

YesNo

Is the Entity a Private early childhood education centre (ECE)?

YesNo

Has the ECE received $80k or more MoE Funding (inclusive of GST)?

YesNo

Have at least 75% of members passed a Special Resolution not to appoint an auditor?

YesNo

Has the entity derived income >$10m over the past 2 financial years?

YesNo

Audit or Review REQUIRED

Disclaimer: This decision tree will accurately assess most entities. However, some complex circumstances won't be picked up, and the rules and thresholds applying to audit requirements can change. Please book a consult below to confirm your obligations.

No Audit or Review required

Disclaimer: This decision tree will accurately assess most entities. However, some complex circumstances won't be picked up, and the rules and thresholds applying to audit requirements can change. Please book a consult below to confirm your obligations.