Massey students, staff and Auckland Community Accounting partners gathered on the Albany campus to celebrate the launch of the initiative. Pictured in the front row from the left are Dr Warwick Stent, Wayne Turiki from RSM, and project manager Geoff Andrews. ANCAD chief executive Yvonne Powley is in the centre of the second row and Professor Fawzi Laswad is to her right.
When Auckland Community Accounting starts advising its first clients later this year, it will be the second service of its kind to involve students from Massey University’s School of Accountancy. The initiative, which has been developed in partnership with Auckland North Community and Development (ANCAD), was launched last Friday.
Head of the School of Accountancy Professor Fawzi Laswad says getting the service off the ground is a major achievement. He credits ANCAD chief executive Yvonne Powley for being the driving force behind the initiative.
“It took 18 months of planning, including preparing business cases, applications for funding and securing the support of professional bodies and accounting firms,” Professor Fawzi says, “and it was Yvonne’s commitment and passion that got us to this stage.”
The Auckland service is modelled on a successful Community Accounting project run in Palmerston North, which is coordinated by the Palmerston North Community Services Council with the support of the School of Accountancy. The programme there has been running for three years, providing free financial advice to community groups and giving students invaluable work experience in the process.
The Auckland initiative has received funding from Foundation North and the Department of Internal Affairs, which has made it possible to contract a project manager to oversee the launch of the project. Other supporting organisations are Auckland Council, professional services firm RSM, Charities Services and Chartered Accountants Australia and New Zealand.
Win-win for students and community groups
Auckland Community Accounting project manager Geoff Andrews says the service will provide free, regular clinics for treasurers and board members of small to medium-sized community groups.
“Non-profit organisations depend on volunteers and sometimes don’t have the expertise in financial management they need, so we will be able to help with such things as completing annual returns and performance reports or getting the best out of accounting software,” he says.
“Some charity treasurers find themselves in the role almost by default so even explaining what the treasurer role encompasses, or helping to understand the financial responsibilities of a governance board or committee can be extremely helpful.”
Dr Warwick Stent from the School of Accountancy is the University’s liaison for the project and more than 25 accountancy students have already expressed interest in volunteering their time.
“The students will work under the supervision of a chartered accountant to provide advice, training and support services to community groups,” Dr Stent says. “It is a great opportunity for them to gain practical experience, develop new professional skills in a real-world environment, and also be good community citizens.”
To use the service or to volunteer time
Community groups interested in receiving assistance from Auckland Community Accounting should contact project manager Geoff Andrews on geoff@ancad.org.nz and indicate what tye of assistance your organisation is looking for.
Chartered accountants interested in supervising students should also email Geoff Andrews.
Second and third-year and postgraduate accountancy students interested in participating in the project should email Emma O'Sullivan on E.O'sullivan@massey.ac.nz