How to complete and submit Financial year end reports
A Financial year end report is a yearly record of an organisation’s financial performance and condition. It typically includes a description of the organisation’s operations, as well as balance sheet, income statement, and cash flow statement information.
We require Financial year end reports because they are a more robust record of an organisation's financial performance than the figures that are entered into our portal every six months.
- They follow an organisation's own financial year end, not the Investment Programmes' calendar.
- They present detail in a way that befits the organisation's operating model, instead of our reporting formats which are standardised.
- They are often 'more final' as they can capture EOY adjustments made by accountants or bookkeepers.
- They involve a review by an external party or auditor and require the approval of your governance body.
We also use this report to check the accuracy of the financial information organisations provide at 6-monthly reporting milestones, as part of our responsibility as a public entity.
In November 2021, we announced changes to our Financial year end report process to align with Charities Services requirements. Details of your Financial year end report obligations can be found in your Funding agreement.
The following guidance describes how to submit your Financial year end report.
- Sign in to your CNZ account and open your Report dashboard.
Click Edit to open the relevant Financial year end report.
- Complete the following parts of the report:
Click + Add new attachment to add each document.
You must attach the Financial year end report.
You may also be required to attach a signed auditor's report/findings letter or a signed letter from an independent qualified accountant confirming that they have reviewed the annual accounts being submitted.
Enter an explanation for any significant differences between the information submitted for your last CNZ reporting period and the Financial year end report attached. This might include changes to how revenue or expenses are treated, changes to accounting procedures, or a different financial year end date.
- Click Save then Submit.
How many signatures do I need?
It depends on the level of Financial Year End reporting required. Refer to your Funding Agreement for more information.
Can I submit a draft now and a final version once the auditors have finished?
No. Providing a draft version of the accounts isn’t effective as information may still change. If there is a genuine reason you can’t submit the final report by the deadline, select Request an extension in the CNZ portal
What is the Audit Report and do I need one?
An Audit Report (also known as an auditor’s findings letter) provides key observations from the audit and recommendations for areas where the auditors have identified potential improvements. You only need to submit this if an audit is required.
Do we need to have our accounts audited?
Changes to the Charities Act 2005 created statutory audit and review requirements for medium and large registered charities. The current thresholds have come into effect from 1 January 2022. You can learn more about this here.