[wellylug] Very Important: Meeting of 13th Feb 2005
Mark Foster
blakjak at blakjak.net
Wed Feb 15 19:40:55 NZDT 2006
On Wed, 15 Feb 2006, Michael Bordignon wrote:
> Mark Foster wrote:
>
>> How much does it cost to engage an auditor to audit the yearly accounts?
>
> As far as I'm aware one of the few obligations as such is to send the IRD an
> Annual Financial Statement, which can be created in something like MYOB. I
> may be wrong about having to be audited, but it seems unnecessary for a
> organisation such as WellyLUG..
Well I know for example that the radio club I have been involved with
since ~96 has been keeping an auditor and using them yearly.
The car club i'm involved with has been actively discussing incorporation,
this from one of our contributors:
Lawyer charge for registration and lodgement process $1800
Accountant to set up financial and audit processes $750
Accountant for yearly tax returns $195
We were to have a bank account set up as a Trust. This would cost between
$1200 - $2000 depending on details and requirements.
-- This to incorporate our club as a non profit society.
Now i'm sure this is probably on the paranoid side, but ultimately, unless
much of the above can be done for much cheaper or free, incorporation has
to be very seriously weighed against its benefits...
... I'm not saying its a _bad_ idea, just that, in view of the current
situation, I dont know that its the best fix, in light of this
information. (assuming it is actually a fix at all... we'd have to find
enough people to serve on committee to start with)
Mark.
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