Audit of Service Performance Information Consultation

In February 2019, the XRB issued NZ AS 1 The Audit of Service Performance Information (NZ AS 1). We subsequently deferred the mandatory application date of NZ AS 1 to 1 January 2023 to explore how the standard could be applied in the public sector.  

We have worked with representatives from the Office of the Auditor-General and other practitioners to develop a standard that can easily be adopted and applied in both the public sector and in the not-for-profit sector.  

Our exposure draft proposing to revise NZ AS 1 is the result of that review.  

Proposed changes to the current standard NZ AS 1 include: 

• Alignment with the financial reporting standards 
• Sector-specific material 
• Simplified language and use of examples 
• No added compliance costs.