Church of Scientology files late return amid crackdown on financial reporting laws.
Stuff.co.nz: Church of Scientology files late return amid crackdown on financial reporting laws
http://ift.tt/250ZTZ2
* * * * * BEGIN EXCERPT * * * * *
Church of Scientology files late return amid crackdown on financial reporting laws
BEVAN HURLEY
Last updated 05:00, May 15 2016
Churches are spending hundreds of thousands of dollars to comply with a new crackdown on charities' financial reporting standards.
The Church of Scientology filed their annual returns last week, more than 10 months overdue, and two days after media enquiries. They received nearly $1.4m, and spent just under $600,000.
Charities who spend more than $1m per year are being forced to open up their books, in some cases for the first time, under new laws which came into effect this month.
The Mormon church are among the churches being audited under new financial reporting standards.
The Charities Service say the new laws will bring greater transparency in the sector, but churches say they are having to spend up to $100,000 on auditing fees.
The Scientologists, who attracted attention from documentary makers in the United States for their unconventional practices, were also late filing their returns in 2012.
Church secretary Mike Ferris said their accounts were delayed due to their move into a newly restored $16m heritage-listed building in central Auckland.
"We had to relocate our premises and that interrupted a whole lot of things."
Ferris, who has been a Scientologist for several decades, declined to comment on his arrangement with the Charities Services, adding their communications were private.
He said the church didn't spend enough to be independently audited and had never been previously audited.
* * * * * END EXCERPT * * * * *
Church of Scientology files late return amid crackdown on financial reporting laws
Stuff.co.nz: Church of Scientology files late return amid crackdown on financial reporting laws
http://ift.tt/250ZTZ2
* * * * * BEGIN EXCERPT * * * * *
Church of Scientology files late return amid crackdown on financial reporting laws
BEVAN HURLEY
Last updated 05:00, May 15 2016
Churches are spending hundreds of thousands of dollars to comply with a new crackdown on charities' financial reporting standards.
The Church of Scientology filed their annual returns last week, more than 10 months overdue, and two days after media enquiries. They received nearly $1.4m, and spent just under $600,000.
Charities who spend more than $1m per year are being forced to open up their books, in some cases for the first time, under new laws which came into effect this month.
The Mormon church are among the churches being audited under new financial reporting standards.
The Charities Service say the new laws will bring greater transparency in the sector, but churches say they are having to spend up to $100,000 on auditing fees.
The Scientologists, who attracted attention from documentary makers in the United States for their unconventional practices, were also late filing their returns in 2012.
Church secretary Mike Ferris said their accounts were delayed due to their move into a newly restored $16m heritage-listed building in central Auckland.
"We had to relocate our premises and that interrupted a whole lot of things."
Ferris, who has been a Scientologist for several decades, declined to comment on his arrangement with the Charities Services, adding their communications were private.
He said the church didn't spend enough to be independently audited and had never been previously audited.
* * * * * END EXCERPT * * * * *
Aucun commentaire:
Enregistrer un commentaire