2019-20 NHT Financial Statement

Statement  from NHT's Auditor

NFP’s have been impacted by the increased reporting requirements with new accounting standards AASB 1058 Income of Not-for-Profit Entities, AASB 15 Revenue from Contracts with Customers and AASB 16 Leases all applying for the first time, coupled with the implications arising from COVID-19. Significant delays were encountered to satisfy these increased requirements. To ensure adequate disclosures and accuracy of the financial statements further time was required to prepare the financial statements.