21659
14-May-10
1 of 7
GOVERNANCE OF MĀORI
AUTHORITIES
Describe reporting, accounting, and
auditing requirements of a Māori
authority
level: 4
credit: 12
final date for comment: August 2007
expiry date: December 2008
sub-field: Whenua
purpose: This unit standard is for people who have an interest in any
land (Māori or general) and other assets owned by Māori,
who may ultimately become involved in governance of a
Māori authority.
People credited with this unit standard are able to, for a
Māori authority: describe the reports and returns required;
describe the types, purpose(s), benefits, limitations, reporting,
and contents of accounts; describe the purpose,
requirements, limitations, reporting guidelines, and process
of preparation of an audit report; interpret a set of accounts;
and describe reasons for engaging, and the appointment of,
a professional adviser.
entry information: Open.
accreditation option: Evaluation of documentation and visit by NZQA and industry.
moderation option: A centrally established and directed national moderation
system has been set up by NZQA.
special notes: 1 Legislation includes but is not limited to –
Te Ture Whenua Māori Act 1993, Māori Incorporations
Constitution Regulations 1994, Trustee Act 1956, Māori
Reservations Regulations 1994, Income Tax Act 1994,
Privacy Act 1993.
? New Zealand Qualifications Authority 2010
21659
14-May-10
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GOVERNANCE OF MĀORI
AUTHORITIES
Describe reporting, accounting, and
auditing requirements of a Māori
authority
2 Assessment
The practical exercise in element 2 may be undertaken
as a written assignment, project, discussion group or
simulated exercise.
Assessment can be undertaken in relation to a strategic
plan provided to the candidate.
Assessment will be based on one Māori authority
agreed to by the candidate and the assessor.
3 Definition
Māori Authorities refer to Ahu Whenua Trusts, Putea
Trusts, Whanau Trusts, Whenua Topu Trusts, Kai Tiaki
Trusts, Māori incorporations, Māori reservations.
Elements and Performance Criteria
element 1
Describe the reports and returns required for a Māori authority.
performance criteria
1.1 Internal reports required under a constitution or trust deed for a Māori authority
are described in terms of their content.
Range: may include but is not limited to – manager’s report, chairman’s
report, auditors report, financial report, triple bottom line reports,
farm advisors report.
1.2 External reports and returns required for a Māori authority are described in
accordance with legislative requirements.
Range: includes but is not limited to – tax returns, annual returns, Māori
Land Court reports.
? New Zealand Qualifications Authority 2010
21659
14-May-10
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GOVERNANCE OF MĀORI
AUTHORITIES
Describe reporting, accounting, and
auditing requirements of a Māori
authority
1.3 Reports required for specific purposes for a Māori authority are described in
terms of their content.
Range: at least two of – capital expenditure, borrowing proposals,
investment proposals, investment report for beneficial owners.
1.4 Reporting requirements of trustees are described in accordance with the
policies of a Māori authority.
Range: includes but is not limited to – growth income, enhancement of
value of assets, protection of assets of business, liquidity and
solvency.
element 2
Describe the types, purpose(s), benefits, limitations, reporting, and contents of accounts
for a Māori authority.
performance criteria
2.1 The types, purpose(s), and benefits of accounts are described in relation to a
Māori authority.
Range: types – abbreviated, consolidated;
purpose includes but is not limited to – true and fair view of the
entities worth, discharge of responsibility of trusteeship, statement
of wealth to beneficial owner.
2.2 The limitations of accounts are described in relation to a Māori authority.
Range: may include but is not limited to – problems identified versus
solutions, historical nature of data, amount of information needed,
cost of up-to-date information, affect of information on people’s
attitudes, people’s behaviour and decisions, dollar value and
statistical data to gain a true and fair view.
? New Zealand Qualifications Authority 2010
21659
14-May-10
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GOVERNANCE OF MĀORI
AUTHORITIES
Describe reporting, accounting, and
auditing requirements of a Māori
authority
2.3 Reporting guidelines are described in accordance with general accepted
accounted procedures, and in relation to a Māori authority.
Range: includes but is not limited to – statement of accounting principles,
time period, revenue and expense, basis of provisions and
deferments, depreciation.
2.4 Contents of a set of accounts are described in accordance with general
accepted accounted procedures, and in relation to a Māori authority.
Range: includes but is not limited to – audit report, board directory, board
report, statement of financial performance, movement of owners’
funds, statement of financial position, statement of cash flow,
assets and depreciation schedule, notes to financial report, key
ratios.
element 3
Describe the purpose, requirements, limitations, reporting guidelines, and process of
preparation of an audit report for a Māori authority.
performance criteria
3.1 The purpose and requirements of an audit report are described in accordance
with general accepted accounted procedures.
Range: requirements – financial position, true and fair view, exceptional
items, targeted accounts, minutes, preparation, sign-off, people
involved.
3.2 The limitations of an audit report are described for a Māori authority
Range: includes but is not limited to – soundness of business,
management status of business, accuracy of statements, success
of control systems, tagged accounts.
? New Zealand Qualifications Authority 2010
21659
14-May-10
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GOVERNANCE OF MĀORI
AUTHORITIES
Describe reporting, accounting, and
auditing requirements of a Māori
authority
element 4
Interpret a set of accounts for a Māori authority.
performance criteria
4.1 A set of accounts is described in terms of the relationship between items.
Range: includes but is not limited to – budgets, other target figures, past
history and experience, inter-industry comparisons, district or
national averages.
4.2 A set of accounts is described in terms of its accounting standards.
Range: includes but is not limited to – historical nature, cost valuation,
prudence, any omission of assets.
4.3 Financial ratios or key performance indicators are described in terms of their
significance for a Māori authority.
Range: includes but is not limited to – profitability, liquidity, debt gearing,
efficiency, growth, enhancement of assets, return of investments,
return on fixed assets, return on all assets.
4.4 A Māori authority is described in terms of the factors which determine solvency.
Range: ability to pay its debts, assets versus liabilities.
? New Zealand Qualifications Authority 2010
21659
14-May-10
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GOVERNANCE OF MĀORI
AUTHORITIES
Describe reporting, accounting, and
auditing requirements of a Māori
authority
element 5
Describe reasons for engaging, and the appointment of, a professional adviser.
performance criteria
5.1 Reasons for engaging a professional adviser are described in relation to
specified situations.
Range: includes but is not limited to – advice, interpretation, preparation of
documents, filing of documents, reports, feasibility studies, critical
risk assessment of success.
5.2 Procedures for selection of a professional adviser are described.
Range: includes but is not limited to – terms of reference, track record,
credibility, credit check, referees.
Comments on this unit standard
Please contact the NZQA Māori Qualifications Services mqs@nzqa.govt.nz if you wish to
suggest changes to the content of this unit standard.
Please Note
Providers must be accredited by the Qualifications Authority or a delegated inter-
institutional body before they can register credits from assessment against unit standards
or deliver courses of study leading to that assessment.
Industry Training Organisations must be accredited by the Qualifications Authority before
they can register credits from assessment against unit standards.
Accredited providers and Industry Training Organisations assessing against unit standards
must engage with the moderation system that applies to those standards.
? New Zealand Qualifications Authority 2010
21659
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GOVERNANCE OF MĀORI
AUTHORITIES
Describe reporting, accounting, and
auditing requirements of a Māori
authority
Accreditation requirements and an outline of the moderation system that applies to this
standard are outlined in the Accreditation and Moderation Action Plan (AMAP). The
AMAP also includes useful information about special requirements for providers wishing to
develop education and training programmes, such as minimum qualifications for tutors and
assessors, and special resource requirements.
This unit standard is covered by AMAP 0166 which can be accessed at
http://www.nzqa.govt.nz/site/framework/search.html.
? New Zealand Qualifications Authority 2010