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Table 1. Number of Charges Under the Financial Act 1993 and the Financial Transaction Reporting Act 1996 against Corporations, by charge outcome The reduction in financial reporting offences could be attributed to greater financial reporting transparency that exists in IFRS requirements and the limited chances for acquiescence, compromise, avoidance and manipulation of accounting items when enforced (Oliver, 1991). The reduction in the occurrence of charges and convictions associated with financial reporting could also be due to awareness by preparers of financial statements about the regulatory deterrence.

Table 1 Number of Charges Under the Financial Act 1993 and the Financial Transaction Reporting Act 1996 against Corporations, by charge outcome The reduction in financial reporting offences could be attributed to greater financial reporting transparency that exists in IFRS requirements and the limited chances for acquiescence, compromise, avoidance and manipulation of accounting items when enforced (Oliver, 1991). The reduction in the occurrence of charges and convictions associated with financial reporting could also be due to awareness by preparers of financial statements about the regulatory deterrence.

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In determining the tier associated with an entity, certain characteristics have to be met. For entities in tier 1, the entity must be publicly accountable. This is consistent with IASB requirements for entities complying with the IFRS for publicly accountable companies. Entities in tier 2 are not publicly accountable. This includes for-profit entities considered large by assets and revenues and small entities considered small by revenues, assets, liabilities and employees. Large entities are required to comply with a different version of IFRS. Accounting requirements applicable to entities in tier 2 are those provided under the RDR. They include measurement and disclosure concessions. Entities with less than NZ$2,000, 000 expenses per annum are considered small. Therefore, the tier 3 reporting requirements apply. These entities in the tier 3 are known as Public Benefit Entities (PBEs). These accounting standards for tier 1 — 3 are mainly accrual basis reporting. The entities allowed by law to apply the cash accounting reporting system are classified as tier 4 entities.
In determining the tier associated with an entity, certain characteristics have to be met. For entities in tier 1, the entity must be publicly accountable. This is consistent with IASB requirements for entities complying with the IFRS for publicly accountable companies. Entities in tier 2 are not publicly accountable. This includes for-profit entities considered large by assets and revenues and small entities considered small by revenues, assets, liabilities and employees. Large entities are required to comply with a different version of IFRS. Accounting requirements applicable to entities in tier 2 are those provided under the RDR. They include measurement and disclosure concessions. Entities with less than NZ$2,000, 000 expenses per annum are considered small. Therefore, the tier 3 reporting requirements apply. These entities in the tier 3 are known as Public Benefit Entities (PBEs). These accounting standards for tier 1 — 3 are mainly accrual basis reporting. The entities allowed by law to apply the cash accounting reporting system are classified as tier 4 entities.
Note: There are no recorded charges against corporations for the relevant offence codes prior to 2004 Table 2. Number of Corporations Charged under the Financial Reporting Act 1993 and the Financial Transaction Reporting Act 1996, by most serious charge
Note: There are no recorded charges against corporations for the relevant offence codes prior to 2004 Table 2. Number of Corporations Charged under the Financial Reporting Act 1993 and the Financial Transaction Reporting Act 1996, by most serious charge
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