Understandability and Transparency of the Financial Statements of ...

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Table of Contents List of Tables .............................................................................................................. x List of Figures .............................................................................................................. x Abbreviations ............................................................................................................. xi Related Research Outputs .............................................................................................. xiii Attestation of Authorship ............................................................................................... xiv Acknowledgements ......................................................................................................... xv Abstract .......................................................................................................... xvii CHAPTER 1: INTRODUCTION ................................................................................ 1 1.1 Introduction .......................................................................................................... 1 1.2 Background to the research ................................................................................. 1 1.3 Research problem and research questions ........................................................... 2 1.4 Justification for the research ................................................................................ 4 1.5 Methodology ........................................................................................................ 5 1.6 Charity Nomenclature .......................................................................................... 6 1.6.1 Not for Profit ............................................................................................... 7 1.6.2 Public benefit .............................................................................................. 8 1.6.3 Donee organisations ................................................................................... 8 1.6.4 Voluntary organisation ............................................................................... 9 1.6.5 Non-Governmental Organisation ............................................................. 10 1.7 Delimitations of scope ....................................................................................... 10 1.7.1 Countries included .................................................................................... 10 1.7.2 Beneficiaries ............................................................................................. 11 1.8 Outline of thesis ................................................................................................. 11 1.9 Summary ............................................................................................................ 12 ii
CHAPTER 2: REGULATORY & CONCEPTUAL FRAMEWORKS .................... 13 2.1 Introduction ........................................................................................................ 13 2.2 Charitable purpose ............................................................................................. 13 2.2.1 Pemsel case ............................................................................................... 14 2.2.2 New Zealand‟s Charities Act 2005 ........................................................... 14 2.2.3 Problems ................................................................................................... 15 2.3 Legal structures of Charities .............................................................................. 16 2.3.1 Limited liability Company......................................................................... 17 2.3.2 Incorporated Society ................................................................................. 18 2.3.3 Charitable Trust ........................................................................................ 18 2.3.4 Problems ................................................................................................... 19 2.4 Regulatory and Conceptual frameworks ........................................................... 19 2.4.1 Australia .................................................................................................... 19 2.4.1.1 Regulatory framework ........................................................................ 20 2.4.1.2 Conceptual framework ........................................................................ 21 2.4.2 England and Wales ................................................................................... 22 2.4.2.1 Regulatory framework ........................................................................ 22 2.4.2.2 Conceptual framework ........................................................................ 23 2.4.3 International ............................................................................................. 24 2.4.3.1 First sector – Profit making organisations .......................................... 24 2.4.3.2 Second sector - Public sector organisations ........................................ 24 2.4.3.3 Third sector - Charities ....................................................................... 25 2.4.4 New Zealand ............................................................................................. 25 2.4.4.1 Regulatory framework ........................................................................ 26 2.4.4.2 Registers ............................................................................................. 27 2.4.4.3 Current conceptual framework ........................................................... 29 2.4.4.4 Future conceptual framework ............................................................. 31 2.5 Problems ............................................................................................................ 33 2.5.1 Lack of knowledgeable people .................................................................. 33 2.5.2 Terrorism funding ..................................................................................... 33 iii
Page 1: Understandability and Transparency
Page 5 and 6: 4.3.3 Axiom 3 - The possibility of
Page 7 and 8: 6.6 Summary .......................
Page 9 and 10: Appendix One - Statement of Financi
Page 11 and 12: Abbreviations AASB Australian Accou
Page 13 and 14: Related Research Outputs The follow
Page 15 and 16: Acknowledgements My journey through
Page 17 and 18: Abstract Access to charities‟ fin
Page 19 and 20: CHAPTER 1: INTRODUCTION 1.1 Introdu
Page 21 and 22: More importantly the study will loo
Page 23 and 24: Unerman and O‟Dwyer (2008, p. 801
Page 25 and 26: adopted here is clarified, as the l
Page 27 and 28: March 1999. Further, a study by the
Page 29 and 30: those by: Vatter (1947); Anthony (1
Page 31 and 32: CHAPTER 2: REGULATORY & CONCEPTUAL
Page 33 and 34: (k) The erection, laying out, maint
Page 35 and 36: Before looking at the legal structu
Page 37 and 38: 2.3.4 Problems As with charity nome
Page 39 and 40: yet to be determined. This ensures
Page 41 and 42: per annum (Charities Commission, 20
Page 43 and 44: certain cases there will be concept
Page 45 and 46: The focus of the Charities Commissi
Page 47 and 48: Unlike incorporated societies, the
Page 49 and 50: 2.4.4.4 Future conceptual framework
Page 51 and 52: problems with New Zealand‟s regul
Page 53 and 54:
This research seeks to identify if
Page 55 and 56:
charities” (Charity Commission, 2
Page 57 and 58:
statements in different documents t
Page 59 and 60:
seek to identify whether a lack of
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In the international arena transpar
Page 63 and 64:
elevance is compromised. The link b
Page 65 and 66:
3.2 Complexities in Charities’ Fi
Page 67 and 68:
3.2.1 Accounting basis The „Accou
Page 69 and 70:
application of the appropriate GAAP
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length transaction”. This definit
Page 73 and 74:
There are four arguments against de
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Financial Accounting Standards Boar
Page 77 and 78:
al., 2008; Newberry, 1992; Rees & D
Page 79 and 80:
However, the notion of control is a
Page 81 and 82:
Kilcullen et al., 2007b). Charities
Page 83 and 84:
the amount of money spent on admini
Page 85 and 86:
This research seeks to identify wha
Page 87 and 88:
As a result of the literature revie
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the elements of the world, or rathe
Page 91 and 92:
come about through the mutually sim
Page 93 and 94:
Research reports from other organis
Page 95 and 96:
clearer picture of the interviewee
Page 97 and 98:
In England, Palmer and Randall (200
Page 99 and 100:
APPROACHING PARTICIPANTS Within the
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availability of charities‟ financ
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As credibility was usually achieved
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clarifications. This approach was u
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to understand the meaning behind an
Page 109 and 110:
analysis is both complete and impar
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subjective realities (Chua, 1986).
Page 113 and 114:
To assure the study was dependable
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CHAPTER 5: ACCOUNTABILITY 5.1 Intro
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emphasis on the definition of accou
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supposition was that a lack of resp
Page 121 and 122:
general public (Charity Commission,
Page 123 and 124:
assumes the other is monitoring the
Page 125 and 126:
performance reporting rather than f
Page 127 and 128:
appropriate performance information
Page 129 and 130:
examiners and the Charities‟ Boar
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which was set up in 2003. Charity a
Page 133 and 134:
Western Australia, all financial st
Page 135 and 136:
The fourth level of independent exa
Page 137 and 138:
What are the major areas of concern
Page 139 and 140:
subset of good accountability pract
Page 141 and 142:
Programme refers to a meeting of ob
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ecording property, plant and equipm
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Figure 6-2 Dimensions of Financial
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Because the [charity‟s] finances
Page 149 and 150:
„selling a story‟ makes them fo
Page 151 and 152:
that you can use it [the stove] for
Page 153 and 154:
the organisation pay to have those
Page 155 and 156:
contributors twice - first to fund
Page 157 and 158:
There is a need to record restricte
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charity will have control of a seco
Page 161 and 162:
of accountants involved in Charitie
Page 163 and 164:
their decision making. One auditor
Page 165 and 166:
Whilst the sample in this thesis is
Page 167 and 168:
Another problem my study found was
Page 169 and 170:
framework funders would not be able
Page 171 and 172:
The lack of professionalism must be
Page 173 and 174:
New Zealand‟s charitable purpose
Page 175 and 176:
We have since February of last year
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analysis was done of the first comp
Page 179 and 180:
Also the idea of members „taking
Page 181 and 182:
The transparency of their organisat
Page 183 and 184:
7.3 Monitoring As discussed in Chap
Page 185 and 186:
Zealand] Statistics Department poin
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There was a sub-committee running [
Page 189 and 190:
useful for smaller organisation and
Page 191 and 192:
change and they‟re doing a good j
Page 193 and 194:
problem that you‟ve [pause] we‟
Page 195 and 196:
legislation and monitoring. Of part
Page 197 and 198:
CHAPTER 8: PERFORMANCE ACCOUNTABILI
Page 199 and 200:
In New Zealand both the Controller
Page 201 and 202:
what proportion of their charitable
Page 203 and 204:
None of the above reasons includes
Page 205 and 206:
Charities Commission publication
Page 207 and 208:
achieve an appropriate level of per
Page 209 and 210:
more effectively in order to increa
Page 211 and 212:
eneficiaries‟ needs are met is an
Page 213 and 214:
As well as setting aside reserves,
Page 215 and 216:
The important aspect of the propose
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Mostly they [the funders] are worki
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eyond financial health to include
Page 221 and 222:
8.4.4 Prescribed performance report
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impact they have on their beneficia
Page 225 and 226:
statements, but also other mechanis
Page 227 and 228:
compare different charitable organi
Page 229 and 230:
shock when their accounts are eithe
Page 231 and 232:
9.4 Academic Contribution This rese
Page 233 and 234:
Outcomes (Effectiveness) Figure 9-1
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Charities Register, of which thirty
Page 237 and 238:
success in their activities. For as
Page 239 and 240:
Ahrens, T., & Chapman, C. S. (2006)
Page 241 and 242:
Australian Accounting Standards Boa
Page 243 and 244:
Bradbury, M. E., & Baskerville, R.
Page 245 and 246:
Charities Commission. (2009f). A sn
Page 247 and 248:
commission.gov.uk/Our_regulatory_ac
Page 249 and 250:
Cordery, C. J., & Baskerville, R. (
Page 251 and 252:
Eisenberg, P. (Ed.). (2005). Challe
Page 253 and 254:
Fremont-Smith, M. R. (2004). Pillag
Page 255 and 256:
Hui, D. (2006). Financial Reporting
Page 257 and 258:
http://www.ifac.org/Members/DownLoa
Page 259 and 260:
Maxwell, J. A. (1992). Understandin
Page 261 and 262:
http://www.nzica.com/AM/Template.cf
Page 263 and 264:
O'Sullivan, N., & O'Dwyer, B. (2009
Page 265 and 266:
Robson, C. (1993). Real World Resea
Page 267 and 268:
Television New Zealand (Writer) (27
Page 269 and 270:
Appendix One - Statement of Financi
Page 271 and 272:
Appendix Three - Semi-structured in
Page 273 and 274:
Appendix Five - Participant informa
Page 275 and 276:
Appendix Six - Transcriber’s Conf
Page 277:
Heading 1 Heading 2 Heading 3 Prope
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