Trust and Confidence: Views from Audit Committee Chairs
The External Reporting Board commissioned research into Audit Committee Chairs perceptions of quality and performance of audits to inform discussions on the role of audit in maintaining trust and confidence in financial reporting in New Zealand, and to examine how the standards we issue, contribute to enhancing trust and confidence in New Zealand.
Maintaining high levels of trust and confidence in reported information is fundamental for the efficient running of the New Zealand economy. Each stakeholder in the financial reporting supply chain plays an important role in supporting high quality information. The role that Audit Committees play in the oversight of financial reporting cannot be understated, nor can the role of auditors.
The research found that trust and confidence in reported information in New Zealand is high and that auditing standards are a key contributing factor to this. Alignment with international and Australian accounting and auditing standards is seen as important – confirming that our convergence and harmonisation policy is serving listed entities in New Zealand well.
Perceptions of Trust Confidence Research Report
Published: 6 September 2023