Auditor reporting - Frequently asked questions

The enhanced auditor reporting requirements came into mandatory effect for audits of financial statements for periods ending on or after 15 December 2016. The changes impact all auditors’ reports for audits conducted in accordance with the International Standards on Auditing (New Zealand) (ISAs (NZ)). Listed issuer auditors’ reports have additional requirements effective for the December 2016 reporting season, with delayed mandatory application for auditors' reports of all other FMC reporting entities considered to have a higher level of public accountability by 2018.

The NZAuASB has published a series of FAQs to assist with the adoption of the new requirements.  The FAQs are intended to assist auditors, directors, audit committee members, chief financial officers and other stakeholders in understanding the enhanced auditor reporting requirements in New Zealand.