History of Approvals

Recently Issued Standards

On this page, we provide a full list of recently issued auditing and assurance standards or amending standards issued by the XRB in the order of issue date.

Effective dates are fully set out in the relevant standard or amending standard.

Issued Standard/Amending standard Effective date
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Mar 2022 PES 1 - NZ Fees Amendment Dec 2022 Amending standard

 

Issued Standard/Amending standard Effective date
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Dec 2021 2021 Amendment to NZ AS 1 The Audit of Service Performance Information Deferred to Jan 2022 2021 Amendment to NZ AS 1
Jul 2021 Conforming Amendments to ISAs (NZ) and Other Pronouncements 15 Dec 2022 Conforming Amendments arising from Quality Management Project

 

Issued Standard/Amending standard Effective date
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Apr 2020 Annual Improvements 2020 Jun 2021 Amending standard
Mar 2021 PES 1: Role and Mindset Changes Dec 2021 PES 1
Jul 2021 PES 3: Quality Management for Firms that perform Audits or reviews of financial statements, or other assurance or related services engagements 15 Dec 2022 PES 3
Jul 2021 PES 4: Engagement Quality Reviews 15 Dec 2022 PES 4
Jul 2021 ISA (NZ) 220 (Revised) Quality Control for an Audit of Financial Statements 15 Dec 2022 ISA (NZ) 220 (Revised)
Jul 2021 PES 1: Objectivity Amendments 15 Dec 2022 PES 1: Objectivity Amendments

 

Issued Standard/Amending standard Effective date
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Feb 2021 Agreed-upon Procedures Engagements Jan 2022 ISRS (NZ) 4400

 

Issued Standard/Amending standard Effective date
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Jun 2020 Review of Financial Statements Performed by the Independent Auditor of the Entity Dec 2020 NZ SRE 2410 (Revised)
Jun 2020 Conforming Amendments to Auditing and Assurance Standards as a result of Professional and Ethical Standard 1 (PES 1) Jul 2020 Conforming Amendments
Apr 2020 Identifying and Assessing the Risks of Material Misstatement and related Conforming and Consequential Amendments  Dec 2021 ISA (NZ) 315 (Revised 2019)
Feb 2020 Amendments to ISA (NZ) 560 Subsequent Events Jun 2021 ISA (NZ) 560

 

Issued Standard/Amending standard Effective date
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Oct 2020 PES 1: Part 2 Dec 2020 PES 1
Feb 2020 Amending Standard Part 4B  Jun 2021 PES 1

 

Issued Standard/Amending standard Effective date
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Feb 2019 NZ AS 1 The Audit of Service Performance Information Jan 2021  NZ AS 1

 

Issued Standard/Amending standard Effective date
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Nov 2018 ISA (NZ) 540 (Revised) Dec 2019  ISA (NZ) 540 
(Revised)

 

Issued Standard/Amending standard Effective date
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Dec 2018 PES 1 Code of Ethics for Assurance Practitioners Jun 2019 PES 1
Feb 2018 Long Association and Public Interest Entity Amendments to PES 1 (Revised) Dec 2018  PES 1 (Revised)

 

Issued Standard/Amending standard Effective date1 Access the document
 Mar 2017 SAE 3100 (Revised) Assurance Engagements on Compliance  Jan 2018  SAE 3100 (Revised)

 

Issued Standard/Amending standard Effective date1 Access the document
Nov 2016 ISA (NZ) 250 (Revised) Consideration of Laws and Regulations in an Audit of Financial Statements   Dec 2017  ISA (NZ) 250 (Revised) 
Sep 2016 ISA (NZ) 810 (Revised) Engagements to Report on Summary Financial Statements   Dec 2016   ISA (NZ) 810 (Revised) 
Sep 2016  ISA (NZ) 805 (Revised) Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement  Dec 2016   ISA (NZ) 805 (Revised) 
Sep 2016 ISA (NZ) 800 (Revised) Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks  Dec 2016  ISA (NZ) 800 (Revised)
Issued Standard/Amending standard Effective date1 Access the document
Aug 2016 Amendments to PES 1 (Revised) Non-compliance with Laws and Regulations Jul 2017   PES 1 (Revised)

 

Issued Standard/Amending standard Effective date1 Access the document
Nov 2016 Annual Improvements (includes changes to ISAs (NZ), NZ SRE and PESs Dec 2016  Annual Improvements

 

Standards Now in Effect and Standards Issued but Not Yet Effective

We have also prepared a table to help you identify new or amending standards that are now in effect and standards that were issued but not yet effective. This is presented in the order of the latest effective date. Effective dates are fully set out in the relevant standard or amending standard. 

Type 

Effective date 

Issued 

Standard/Amending standard 

Professional and Ethical Standards 

15 Dec 2022 

Jul 2021 

PES 3 Quality Management for Firms that perform Audits or reviews of financial statements, or other assurance or related services engagements 

Professional and Ethical Standards 

15 Dec 2022 

Jul 2021 

PES 4 Engagement Quality Reviews 

Professional and Ethical Standards 

15 Dec 2022 

Jul 2021 

ISA (NZ) 220 (Revised) Quality Control for an Audit of Financial Statements 

Auditing Standards 

15 Dec 2022 

Jul 2021 

Conforming  Amendments to ISAs (NZ) and Other Pronouncements Arising from the Quality Management Projects 

Professional and Ethical Standards 

15 Dec 2022 

Jul 2021 

PES 1 Objectivity Amendments