Assurance Over Financial Information Prepared in Connection with a Capital Raising
Proposed SAE 3450 Assurance Over Financial Information Prepared in Connection with a Capital Raising (ED NZAuASB 2022/3)
Assurance over financial information prepared in connection with an offering is not required by regulation, but is often voluntarily sought by the directors of the company. As there is no specific international assurance standard dealing with this type of engagement,
New Zealand practitioners have historically referred to the applicable Australian standard. To address this gap in the market, the XRB has developed a proposed domestic standard for use in New Zealand.
This proposed standard deals with the responsibilities of the assurance practitioner when performing an assurance engagement, and reporting on the preparation of published financial information prepared in connection with an offering.
The types of financial information covered by the exposure draft include:
- Historical financial information
- Pro forma historical financial information
- Prospective financial information
- Pro forma prospective financial information
We are seeking comments on all aspects of the proposal and the specific questions we have included in the Consultation Document, so let us know what you think.
Submissions closed on 26 September 2022