NZAuASB Update

What can you expect from auditor reports in response to COVID-19?

XRB Alert—Modified Audit Reports Explained

 XRB Alert 2020-1 Cover

What can you expect from auditor reports in response to COVID-19?

Here we explain the communication tools auditors use in auditor reports and the likely impact of COVID-19 on auditor reporting, including

  • More modified auditor opinions;
  • More disclosures in Auditor Reports; And
  • The impact of going concern matters on the auditor’s thought process and auditor’s report

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Have you checked out our website COVID-19 information page? Here we provide answers to frequently-asked questions as well as some useful links to a selection of resources available on the audit considerations from the impact of COVID-19. We are updating this page regularly as new information comes to hand.

Have a look


We are also regularly posting links to relevant material and posts on our LinkedIn page.

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This NZAuASB Update is intended to provide subscribers with a summary of the recent activities of the New Zealand Auditing and Assurance Standards Board (NZAuASB). Links to websites are correct at the time of publication. Subscribers should not rely on this newsletter as a definitive publication of updates. The External Reporting Board and its sub-Board the NZAuASB do not guarantee, and accept no legal liability whatsoever arising from or connected to, the accuracy, reliability, currency, timeliness or completeness of this newsletter. The information contained in this newsletter does not constitute advice and should not be relied upon as such.