Accountancy in New Zealand

>> Audit Requirements in New Zealand

Requirement and thresholds

New Zealand does not have a set of legislation which details out the auditing requirements or thresholds. Rather, there are various legislation, acts and codes issued by various bodies which have incorporated auditing requirements.

As a benchmark, the following entities must have their accounts audited:

  • all entities on the NZX;
  • all entities which qualify under the definition of a large entity (with some exceptions);
  • all entities which are issuers like insurance companies.

There are further specific requirements which require entities to have their accounts audited, and include charitable organisations (if their constitution/trust deeds specify) as well as entities that are partly funded by the Government or public coffers.

The filing requirements of lodging audited financial statements with the Registrar of Companies have been reduced and are now:

  • 4 months from balance date for entities covered by the Financial Markets Conduct Act (FMC reporting entities); and
  • 5 months from balance date for non- FMC reporting entities.



Latest version updated 5th April 2019

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