Auditing Standards

This page contains the current formatted Auditing Standards issued by the XRB Board or the NZAuASB.

These Auditing Standards apply to all assurance practitioners adopting the XRB auditing and assurance standards.

Auditing Standards are issued under section 24(1)(b) of the Financial Reporting Act 1993.

You can download a a PDF copy of the Standards by clicking on the relevant link below.

Standard Title Issued in New Zealand Date compiled to Effective date Additional material

The Standards are effective for audits of financial statements for periods beginning on or after the effective date indicated.

A standard also applies to subsequent annual reporting periods until that standard is superseded by a new/amended/revised standard.

Amending Standard

Annual Improvements 2016

Nov 2016

Periods ending on or after 15 Dec 2016

Amending Standard

Amendments to the International Standards on Auditing (New Zealand) to Describe the Responsibilities of Those Charged with Governance

Sep 2015

Sep 2015

Periods ending on or after 15 Dec 2016

Explanation

ISA (NZ) 200 Overall Objective of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing (New Zealand) (Compiled) Jul 2011 Oct 2016 Effective on 15 Dec 2016

ISA (NZ) 200

Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 210 Agreeing the Terms of Audit Engagements (Compiled) Jul 2011 Oct 2016 Periods ending on or after 15 Dec 2017
ISA (NZ) 210

Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 210


Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 220 Quality Control for an Audit of Financial Statements (Compiled) Jul 2011 Oct 2016 Periods ending on or after 15 Dec 2017
ISA (NZ) 220

Oct 2016 Effective on 15 Dec 2016

ISA (NZ) 220


Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 230 Audit Documentation (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 230


Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 240 The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements (Compiled) Jul 2011 Oct 2016 Periods ending on or after 15 Dec 2017
ISA (NZ) 240

Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 240


Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 250 (Revised) Consideration of Laws and Regulations in an Audit of Financial Statements (Compiled) Jul 2011 Oct 2016 Periods ending on or after 15 Dec 2017 Mark up of compiled ISA (NZ) 250
ISA (NZ) 250

Oct 2016 Effective on 15 Dec 2016
ISA (NZ) 250

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 260 (Revised) Communication with Those Charged with Governance Jul 2011 Oct 2016 Periods ending on or after 15 Dec 2017
ISA (NZ) 260 (Revised)

Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 260 (Revised)

Communication with Those Charged with Governance (Compiled)


Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 265 Communicating Deficiencies in Internal Control to those Charged with Governance and Management (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 265


Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 300 Planning an Audit of Financial Statements (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 300



Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 315 (Revised) Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 315 (Revised)

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 320 Materiality in Planning and Performing an Audit (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 320

Apr 2013

Periods ending on or after 15 Dec 2013

ISA (NZ) 330 The Auditor’s Responses to Assessed Risks (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 330

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 402

Audit Considerations Relating to an Entity Using a Service Organisation (Compiled)

Jul 2011

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 450  Evaluation of Misstatements Identified During the Audit (Compiled) Jul 2011 Oct 2016 Periods ending on or after 15 Dec 2017
ISA (NZ) 450

Oct 2015 Periods ending on or after 15 Dec 2016
ISA (NZ) 450

Dec 2013 Periods beginning on or after 1 Jul 2014
ISA (NZ) 500  Audit Evidence (Compiled) Jul 2011 Oct 2016 Periods ending on or after 15 Dec 2017
ISA (NZ) 500

Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 500

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 501

Audit Evidence – Specific Considerations for Selected Items (Compiled)

Jul 2011

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 505

External Confirmations (Compiled)

Jul 2011

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 510 Initial Audit Engagements – Opening Balances (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 510

Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 520

Analytical Procedures (Compiled)

Jul 2011

Apr 2013

Periods ending on or after 15 Dec 2013

ISA (NZ) 530

Audit Sampling

Jul 2011

Jul 2011

Periods beginning on or after 1 Sep 2011

ISA (NZ) 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 540

Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 550 Related Parties Jul 2011 Oct 2016 Effective on 15 Dec 2016

ISA (NZ) 550

Related Parties (Compiled)

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 560 Subsequent events (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 560

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 570 (Revised) Going Concern Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 570

Jul 2011

Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 580 Written Representations (Compiled) Jul 2011 Oct 2015 Periods ending on or after Dec 2016
ISA (NZ) 580

Dec 2013 Periods beginning on or after 1 Jul 2014
ISA (NZ) 600 Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 600

(Compiled)

Jul 2011

Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 610 (Revised)

Using the Work of Internal Auditors (Compiled)

Apr 2013

Feb 2013

Effective on 1 Jan 2014

ISA (NZ) 620

Using the Work of an Auditor’s Expert (Compiled)

Jul 2011

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 700 (Revised) Forming an Opinion and Reporting on Financial Statements Jul 2011 Oct 2015 Effective on 15 Dec 2016

ISA (NZ) 700

Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 701 Communicating Key Audit Matters in the Independent Auditors Oct 2015 Oct 2015 Periods ending on or after 15 Dec 2016
ISA (NZ) 705 (Revised) Modifications to the Opinion in the Independent Auditors Report
Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 705


Jul 2011

Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 706 (Revised) Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditors Report Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016
ISA (NZ) 706

Feb 2014 Periods beginning on or after 1 Apr 2014
ISA (NZ) 710 Comparative Information – Corresponding Figures and Comparative Financial Statements (Compiled) Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 710

Jul 2011

Feb 2014

Periods beginning on or after 1 Apr 2014

ISA (NZ) 720 (Revised) The Auditors Responsibility Relating to Other Information Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 720

The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements (Compiled)

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 800 (Revised) Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016

ISA (NZ) 800

Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks (Compiled)

Dec 2013

Periods beginning on or after 1 Jul 2014

ISA (NZ) 805  Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016
ISA (NZ) 805 (Revised)

Aug 2014 Periods beginning on or after 1 Jan 2015
ISA (NZ) 810 (Revised) Engagements to Report on Summary Financial Statements Jul 2011 Oct 2015 Periods ending on or after 15 Dec 2016
ISA (NZ) 810 

Dec 2013 Periods beginning on or after 1 Jul 2014
Available NOCLAR (NZ) Conforming Amendments

Periods ending on or after 15 Dec 2017
Available Conforming amendments to Other ISAs (NZ)

Periods ending on or after 15 Dec 2016
Available Amendments to International Standards on Auditing (New Zealand) Addressing Disclosures in the Audit of Financial Statements

Periods ending on or after 15 Dec 2016
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