Audit & Assurance Standards Board

Role and Responsibilities

The New Zealand Auditing and Assurance Standards Board (NZAuASB) has delegated authority from the XRB Board to develop or adopt, and issue auditing and assurance standards, including professional and ethical standards for assurance practitioners.

High quality assurance that gives users confidence about the fair presentation of the information presented in financial reports is vital to the achievement of the XRB’s outcome goal.

The NZAuASB considers the suite of auditing and assurance standards and how they are being applied. It issues standards or guidance if necessary to achieve its strategic objective.

The Board aims to:

  • establish auditing and assurance standards that build confidence in New Zealand financial reporting;
  • assist entities to compete internationally; and
  • enhance entities’ accountability to stakeholders.

Board Members

The NZAuASB has up to 10 members, with a focus on diversity of experience and perspective. The members of the NZAuASB are appointed by the XRB and are all part time. They are remunerated in accordance with rates determined by the Remuneration Authority. 

Robert Buchanan

Robert is a Wellington lawyer and governance specialist. Robert's previous roles include Assistant Auditor-General, Legal at the Office of the Auditor-General and Director of the Law Commission. Robert also serves as a member of the Auditing and Assurance Standards Board in Australia. In 2020 Robert was appointed a member of the Public Interest Oversight Board, a global body which oversees the international standard setting process. Robert is also a member of the New Zealand Law Society, the Institute of Directors in New Zealand and Local Government New Zealand’s panel of assessors under the CouncilMARK performance assessment programme for local authorities.

John Kensington 
Deputy Chair

John is a Financial Services Audit Partner at KPMG where he is head of KPMG’s Banking & Finance in New Zealand. He is also the editor of the Financial Institutions Performance Survey. John is a licensed auditor and has particular expertise in financial services auditing and related Reserve Bank and Trustee reporting requirements. John is also a trustee of Breast Cancer Cure. 

Bill Edge

Bill is currently Chair of the Financial Reporting Council (FRC) and Acting Chair of the Auditing and Assurance Standards Board (AUASB) in Australia.  He is a retired partner of PwC, having been a partner for 18 years. For his last eight years he led the PwC Australia Risk & Quality Group, which was responsible for risk management and quality control, including methodologies and technologies, across all the firm's business units. He served on Global and Asian Risk and Quality Leadership teams. He also spent six years leading the PwC Australian Professional Standards Group responsible for the firm's financial reporting and auditing policies and advice. He was also previously Chair of the Australian Auditing & Assurance Standards Board.

Robert Cox

Robert has more than 30 years’ experience as an auditor and has been an Audit Director since 2004. Robert leads Audit New Zealand’s technical accounting team, providing support to audit teams in applying both IPSAS and IFRS-based standards to complex public sector transactions. Robert is Chair of Audit New Zealand’s Opinion Review Committee and is also a member of the Technical Reference Group for the New Zealand Accounting Standards Board (NZASB). 

Clyde D'Souza

Clyde is Principal of D’Souza Associates, a boutique merchant banking practice specialising in mergers and acquisitions, due diligence services and valuation advice. Clyde has extensive experience in the financial services sector including research and analysis roles at AMP Investments and Citigroup. He is on the governing board of the Institute of Financial Professionals and a member of the Institute of Directors.

David Hay

David is the Professor of Auditing at the University of Auckland, New Zealand. He is co-author of a recent reference book on auditing and auditing research, The Routledge Companion to Auditing, and an author of numerous articles in research journals and is the Editor-in-Chief of the International Journal of Auditing.

Marje Russ

Marje is an Executive Director of Tonkin & Taylor Group and member of the Risk and Assurance Committee. She has an extensive background in non-financial assurance and environmental management, including as General Manager, Environmental Certification Services at Telarc New Zealand & International Accreditation New Zealand in the 1990s and various other environmental and sustainable business assurance. Marje is a member of the New Zealand Planning Institute, the Resource Management Law Association and is a Chartered member of the Institute of Directors.

Vasana Vanpraseuth

Vasana is a licensed auditor and an Audit Partner at PwC, specialising in the financial services sector. Vasana's audit experience covers a wide range of commercial sector clients in New Zealand and the UK, including insurance, asset management, real estate and finance companies, as well as controls and other assurance engagements.

Mark Maloney

Mark has 30 years’ experience in public sector risk and assurance leading both internal and external audit services. Mark is the General Manager Risk and Assurance at Auckland Council – where he has been since 2015. Prior to this he was with Audit New Zealand for 20 years - the last 10 as an Appointed Auditor and was also responsible for leading Audit New Zealand’s audit methodologies and staff audit methodology training at all levels.  He has recently been appointed as Assistant Auditor General – Local Government at the Office of the Auditor General with effect from April 2022.

He is a Chartered Accountant and a member of the Institute of Directors, and the Institute of Internal Auditors.

Board Vacancies

There are currently no vacancies on the NZAuASB Board.

Audit Reference Group

The Audit Reference Group (ARG) was established to provide feedback to our International Auditing and Assurance Standards Board (IAASB) member and meets prior to each IAASB meeting to consider matters on the upcoming IAASB meeting agenda.